Newspaper of The New York Herald, February 28, 1862, Page 2

Newspaper of The New York Herald dated February 28, 1862 Page 2
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2 llivtd the federal government had not tendered the oath Of allegiance to Brnnh eubjeote, knmmty them to be rach. The Illockade. MI9WkKSKNTATlQhld OF THE LONDON TIMES. Ear! Maliuesbtiry, in asking for the papers connected with the blockade, complained that the London T.wei h id deliberately initreprtstnled that Earl Derby advocated its being forcibly raised. He apiroved the conduct of tin povernm and tho question was ono for them alone to decide: but it was desirabl to know what was the real state of the blockade. He expressed doubts of the [tolicy of the declarations of Paris, 1S5U, and did not believe they would or could he carried out In great won. when circumstances would be too strong for abstract principles. Earl Russell .said that on the first night he was glad t0 find that the nubia Earl opposite had approved of the conduct of the government, and the oountry must feel confluence when all it* leading men mere agreed. The pa?>ers were now being printed. They would be in their lordship's bands before long, and he hoped they would reserve their opinions till then, considering the importance oT the question. Mr. Cobdrn on Maritime Law, In tho House of Commune, on the 10th instant, MrCobden gave notlco that at an early day he intended to brtng under the consideration of tho House the state of intemaii <ua! and maritime law, u it offsets the right* of trtltginH i Ba|lUh Supplies to Union War Ships* LiTBWOOL, Feb. 11,1S6X Tbe English Commissioners of Customs havo formally Instructed the officials in various parts of tho country to carry out Eari Russell's instructions rslativo to supplies for American war Tassels. _ Tho Bum side Expedition. PB1IMCTI0N3 OP TQI LONDON T1XBS?TEST ABB BA3KLXS8 AS RCSSELL'8. The London Tuna, in an editorial on the Burnsido expedition , says the force engaged is plainly xnadequat' to Ih* mrvice expected, and if Burnsido wishes success he will intrench himself, establish a good base of operatlocs and await reinforcements before running the risk of penetrating the enemy's country. Russell, LL.D., Prophesies Again. HIS LAST AMD GKEATK3T FAILl'KK A3 A MI LIT ART A8TROLOOI8T. The London Timet of the 13th instant publishes further correspondence from Mr Russell, from Kow York. In it the writer says'that tho Army of the Potomac it not likely to move till the winter it over, and that a mutinous spiri' prevailed among mm, many of whem are better off than ever they wore, and that the various exDeditlons bv sea bad so far accomplished nothing of moment. The afbir j 'a Kentucky he regards as the greatest success yet achieved by the Union forcos. The Victory at 91111 Springs. The London Xetot reviews the engagement at Mill Springs, Kentucky, as a genuine and important federal euoress, and thinks ir?as it may reasonably hope?the federal troope engaged in it may be taken at a representative specimen of the Union arm y, as It has become under KcCleliac, the result of a rapid and decisive action cannot be doubted. The PrlvstMr Sumter# Madbid, Feb. 13,1802. The Sumter is still at Gibraltar, although the English authorities gave her notice to quit. Several of her crew have landed, and will net re-embark. Mr. 8 Udell in Peris. 18 DIPLOMATIC CHARACTXB IONOKZD. Paris letters say that Mr. Slideli had been received by M. Tboi.'vonel in a private capacity, hit diplomatic at sumption qf character being distinctly ignored. The Invasion of Mexico. XNOLAND SANCTIONS ELECTIVE MONARCBT. The diplo-' itie correspondence concerning the Inter* vention in Mexico had been laid before Parliament. Earl Russell in a late letter to Sir Charles Wyke touch' j Tig the rumor that the Arch Puke Maximilian would be called to the throne of Mexico, says ?If the Mexican peoplu, by a spontaneous movement, place the Austrian Archduke on the throne, there is nothing in the Convention to prevent it; onethe other hand, ice could be no parties to forcible intervention for this purpose. France. The bill for the conversion of the 4% per cent rentes having been passed by the Chamber of Deputies, by a vote ol 228 to 18, the Senate on the lith instant unsni. mously declared that it did not opposa the promulgation of the law for ouch conversion. It was announced in London on the 11th instant that the negotiations with certain capitalists of that city for the four million sterling loan to tha French government or its agents had been suddenly broken off. The cause of the abandonment was not stated, except an Intimation to subscribers that the securities which were to be hypothecated are not to be obtained. The discount bank at St. Etionne had stopped payment. fta capital, to the amount of M,000,000 franca, haa bona loot. The Bours* on the 12th olosed firmer. Ren tea, 71f. 35c Another note oa the affair of the valley of the Dappea had been addressed by the Swiss government to M. lhourenel. It maintains th9 position taken by Switzerland , and regrets that France has not arrived at a similar conviction. I'a km. Feb. 12. 1862. The Monitew publishes the law on the optional eonver. slon of the per cents. The decree fixes the difference to be paid at 5f 40c. for the 4% per eents, and 4f. 20c. for the 4 per cents. Ths monthly return of the Bank of Franco showa an in crease In can If of 47,500,000 francs, In bank notes o 84,000,060, in Treasury notes of ten and two-thirds iuilf lions, in currant accounts of 40,500,000, in advance, 82,250,000, and a dscroase in bills discounted and notdus of 13,000,000 francs. Spain. M. If on has accepted the Presidency of ths Cortes, mads vacant by ths death of Martlnoz de la Rots. It is said that France has consented to fix the nmonnt of ths Spanish debt of 1823 at 20.000,000 francs, and that a decree for Its settlement has roceivsd ths royal signature It was considered probable that Senor Gonzales would be appointod Spunuh Ambassador at Paris, and that Ssnor lsturitz will be President of ths Council of State. Mar,wd, Feb. 12,1362. Ssnor Hon will retain his nppointmsnt as Ambassador { to Francs in addition to bis now post of President of ueegrwe. The statement that some public office had been offered to N'arvaez is unfounded. Important from Germany. PROBABLE DISSOLUTION OP TUB CONIKDKRATION. Bnui, Feb. 13,1302. Important events are approaching in Germany. Saxnny having proposod the reconstruction of Germany more strictly as a confederacy, Trussia replied that she considered the German Confederation as an International and aot a federal part of rrussla, and hinted also thai a reform of tho federal constitution might be carried out in such a way that besides the German union, comprising Austria,a closer Moral union might be formed between Pruseia and euch Gorman States as might Join her, there, by establishing a kind of political Zollverein. Although this was no formal proposal, but a mere suggestion, Austria, Bavaria, Hanover, Saxony, and a majority of the oilier States, Baden and Cohurg excepted, remitted a criltcttn n>4t to I'ninia protesting .70104 her 0iews, and announcing their inienti in to hold a conference for the reorganization of Germany, In sccordancs with the triewe of Saxony, end icvP -g Prussia to join the conference. Prussia declined, end this is expectod to Ised to e dissolution of the Federal ft let. Debates on the German quest mo are expected in the Prussian Chambers, which may bring shout a crisis in Germany. Italy. A great popular demonstration took plum at Osnoa on Sunday, tha Oth Inat ,!in faror of Victor Emanuel, and Roma aa tha capital ot Italy, it Milan, on tha aame day, preparations had beon made Tor a demonstration, but tha Munitipallty issued a notl a that such damonstraiions ware useless, and ad. vising the Milanese to exercise their constitutional rights l>y signing the following protest:? Although respecting the Sovereign rnntilT of Rome an ib head of the Church, we look upon Rome as the caplil of Italy with one King, Victor Emanuel. This protest soon rocclred an Immense number of gnaturea. I'von Ricaeoli had issued a circular on the Roman Hon, in which be observes the government still -res the execution of the national wishes,and bae i>- illy stated by ehnt wsys and means It Intanda to <id to Rome. The Mlniatry alone will decide on tueina and the opportunity of employing them. 1 Tho government desires that its labors n?y not be impeded by iDcoiismertte ant* of enthusiasm and claraorsns manifestations. Prefect* should enlighten public opinion nod nuke U?* of their authority in order to prevent thene . opular j manifestation. l'opulnr demonstrations hnvo taken place in several other Italian towns. The cotton manufacturers nt Genoa, who employ op" | wards of 25,000 hands, held a meeting to consider moans of alleviating the eflecls of the present crisiu in the cot ton trade. A committee was appoiutod to report on lha matter. Austria. Letters from Vienna are tilled with most lament a bis accounts of the inundation. The district submerged in Vienna alone comprises a population of 80,000 persons to be provided for. Rain fell for four days, almost without intsrruption. Hridgee and viaducts were destroyed, and the railroad service was nearly all suspended. Se ,re a' towns vers also inundated by the Danube, including Presburg and I'esih. Other Continentnl rivers, particularly thoas in Holland, had also greatly risen, and were causing much alarm. iuvi ituM vt ntiw uau wiivvu ui> t ijuua, mu imu been visited by the Emperor Fraaeia Joseph and the Arch Dukee. Tnrlaa jr. A severe engagement between the Turks and Montenegrins bad taken place near See tan. The loss was hear jr on both sides. There are rumors at Constantinople of Crash financial projects for the Turkish treasury. Australia. % MsLBOosjm, Dee. 26,1862. The amount of gold shipped since the last mail has been 173,245 ounces. Trade is steady. Cape of Good Hope. Transports .nd other vessels sailing around the Cape of Good Hope are boing armed. West Coast of Africa. The January mails from the West Coast of Africa had reached England. Increased activity in (he slawe trade wat reported. The withdrawal of tbo American squadron led immediately to a large increase in tho number of vessels carrying the American flag. The bark Manuel Orthese, from New York, but sailing under British color3, bad been seized in tho Roads of Cape Coast, on the suspicion that she was a slaver. Commercial Intelligence. the london monet market. The English lunUs on the 12th iust. were Arm but dull. Consols were a shade higher. The discount market was . asy. Good bills sold at 2% a 2*. The funds on Thursday, Feb. 13, closed firmer. Consols, 93 a 931*. American securites unaltered. Sales of Illinois Central shares at 44)? a 43discount; Erie's, 28 a 29?. The Bank of England return shoos a favorable movement In coin and bullion, in spite of shipments to the Continent. The Times city article of tho 13!h inst. says the rise in the funds yesterday of % waa firmly maintained to the close. The discount market was un alto red. liverpool cotton market. Liter root, Feb. 13, 1862. Bales of three days, including Wednesday, 28,000 bales, including 16,000 to speculators and exporters. Tho market closed firmer and with an upward tendancy, but without change in prices. BKKADSTTFFg MARKET. Messrs. Wakefield, Nash A Co., Richardson, Spence k Co., and others, report flour heavy and 64. lower: quoted 28s. a 31s. Wheat quiet, but steady.> cline; mixed 30a. 3d., yellow 30s. Od., white 34s. a 3Ts. provision market, 0 Beef dull and unchanged. Fork declining. Bacon P easier. Lard very dull at 43s. a 45s. Tallow quiet at 46s. a 46?. 6d. ^ produce market. t Ashes quiet: pots 34s., pearls 33s. 6d. Sugar very j dull. Coffee?Sales small. Rice quiet. Rosin dull at 1 12s. Od. a. 13a. for common. Spirits turpentine quiet, r but steady. t london markets. 0 Wheat firm. Flour dull, and 6d. a Is. lower. Sugar steady. Coroo Arm. Tea buoyant. Kice easier. Tallow * steady at 40s. 0d. Linseed oil steady at 34s. 3d. TBS LATEST MARKETS. Liverpool, Feb. 14, 1802. Cotto*.?The Brokers' Circular reports the sales or the week at 54,000 bales, Including 17,000 to speculators and 10,000 to extorters. The market closed firmer, aad with an upward tendency, but unchanged as to quotations. The sales to-day (Friday) are estimated at 12,000 bates, including 0,000 to speculators and exporters, the market closing firmer but unaltered as to prices. The authorised quotations are:? Pbt'r. Middling. Orleans 1?*<L 12\<1. Mobile 13144, 12*;d. Uplands 13'4<1. 12<4d. Stock in port estimated at 525,000 bales, of which 104,500 are American. BRsuDdicm steady, except corn dull at 30s. for mixed. Provisions declining. LOU DOM MOrnST market. Iordos, Feb. 14, 1802. Consols closed at 83)4 for money. The Treasury Mote Bin. THE TREASURY NOTES IN CIRCULATION?THE EFFECTS OP THE PASSAGE OF THE TREASURY NOTE BILL?LEGAL TEN DIB, ETC. The Treasury Nots bill, which, after a daisy of several weeks,has at length passed Congress, and, by the signs, lure of the President, has become a law, is the most Important financial measure evor enacted by our government. Our readers are already familiar with its details, and it will therefore be unnecessary to recapitulate them. A l?w words, however, in regard to tue immediate onect of It* passage will not be out of place. When the bill eball have gone into practical operation, the United Statoa government will have the following different kinds of Treasury notes in circulation First?Votes bearing an interest of six per cent per annum, Issuod under the act of Congress, rodeemable at any time within two years from the date of issue ; also , the six per cent notes issued before tho passage of the 1 act named above. Second?The notes bearing intorcs! at the rate of 7.20 , per centum per annum, issued under the act of August I 1861, receivable for all public dues except the dutia%on imports. Third?The notes issued before the advent of the pre- 1 sent administration, in the dark days at tho beginning of 1 the rebellion, to tbe lowest bidders, er, in other words, ' to those who would take them in return for gold at the lowest rates of Interest. These were awarded at high ratea of Interest, ranging from tan to twelve per cent per annnm. They are receivable for all public dues, the duties on imports included. Out few remain in ctrcuia- ' tion, as tboy hav e been called in, and the interest eeasod to accrue on the Slst of January. Many of these notes were psld for duty at the New York Custom House in December and January. fourth?The demand notes issued lost summer, receivable for all public dues, taxes act duties on Imports included. These notes, by the act Just passed, are to bo received in payment of duties as heretofore, | but, contrary to the fnrmor custom, are not to be reissued," i but are to be r-' it of circulation as quickly as pi net I. i cable. j #T/ffc?Tho demand notes, to lbs valu# of $150,000,000, i which arc to be issued ua quickly m possible, which are < to replace tho demand notes already issued and in cireu- < lation. and which,unlike any other paper issues or the . government, are to boa legal tender in the payment of ! all debts. they aro receivable for taxes, and all other debts to the government, w ith tbe exception of tho dutioa i on imports. , These five classes of notes comprise ail now in circulation or to be placed in circulation, under laws alraady passed. Tho largest values are represented by the notes of the second, fourth and fifth classes. Those of the ether classes are moat'y redeemed tad withdrawn from circulation. The first effect of the passage of the Trsa?ury Note bill haa already been to advance the value of the demand note* now ieaued from a point below their par value to a premium. Inasmuch aa these notes are almost the only ones that can he paid by importers for their duties at tho Custom House, theV will probably advance to a valuo almost as high aa that of tha spec la | itaeir. The vain# of the six per cent notes must also ba enhanced by the provisions or the Treasury Note hill. i A pecond effect will be to re establish the confidence of the people In the ability of the government to meet and | overcome all ita financial ombarrassmenta promptly. All that is now required to give a permanent value to all the i Issues of the Treasury Department is the prompt passage of the different tax btlla now In progreaa In tho Congressional committees. 1 The passage of this bill will have an effect on the value of gold. It hae been thought that Its passage would give i an Immediate Impale* to the rise in the value of specie, i on account of the certainty of an immediate Issue of Esper to take the place of tho bank notes and specie i eretofore used by the people of this country, The I offset, howevar, on gold will not, In all probability, he to i raise its value vory much, at least for the present; for the important amendment, adopted at the lost moment. i providing for the payment of duties In coin and In the ] Com and notes already leaned, renders theso latter almost i as valuable aa gold itself. n> IncreaMug the value of the demand notes in this manner the effect is equivalent to the Introduction of gold, to the event of their value, Into general circulation. Thus, then, the stock of gold i and Its equivalent le Increased, and, as a consequence, the effect of the amendment will not bs to greatly in- i crease, at the rreiunt time, the val e of (-old. Vban the i act just passed shall have been placed In practl-sl nperu Uoa by the actual Issue of the uole? whose emit. I ^EW TOKK. HEKALD, FKJ aio? It auiborlms, the value of gold mijr possibly ho increased, hot wo think thot IT * bill is paasod 1>y that time iiuposiag tu? adcqoate to the payment of interest ou the notional debt ooniracted and to be onatraoied in * proeecoiiun of the w-tf U>o yaluo of the note* will be the sum OKprcxeoil on theif race, or, in other words, the value of gutd will not b enhanced. The elltv-t of the legal tender clauso will be good, Inasmuch as it establishes a uniform currency throughout the United States, and drives out of circulation much of the worthless trash with which the country has been 0eode<l, sub-lilutui^ therefor uotos to the redemption of which the faith of tho nation Is pleJgod and its property mortgaged. NEWS FROM THE SOUTH. Development of Union Sentiment in the Rebel Slates. The Posit ion of the Union and State Eights Parties. Interesting Correspondence Between Officers of the Bebel Army* What a North Carolina Paper Thinks of the Koanoke Victory. s.m 11es neiiiui tin BnnnT mmrnma atu v ma nnio ux nc nrin vixxi/iuw, Ac., Ac., Ac. OUR BALTIMORE CORRESPONDENCE. BiXTiKOM, Feb. 26,1862. n? Union Filing at the South?Its Extent and Prevalence? Horn it Can be Made Available in Bringing the Revolted States Back to Their Allegiance?The Abolitionists of th4 North the Only Obstacles in the Way of a Perfect Reunion, Ac. _ The conditions under which the Union feeling st the V>uth exists are a matter of the groatoat consequence [he fact that there is such a feeling existing is boyondi lispute. But it is of the highest importance to ascertain There it exists, wha' is the cjtoat of the foeliug, and vhother It can be raado available in bringing back into he Union any of the States which now compose the louthern confederacy. The facts of the case, so far as \ tare been able to collect them, after diligent research, ire as follows:?Tho people of all the Southern States are livided into two great classes, which, for the sake of distinction, may be called Union men and State rights men. ftie former are willing to lay down their arms and return ;o thoir allegiance only under certain conditions and express stipulations. Tbe latter, undismayed by the resent reverses, aro determined never to yield, but to fight inttt they are exterminated, or until their independence s achieved. The entire population of the States of South Carolina, Mississippi, Louisiana,Florida, Toxoa and Alatame bolongs to this class, and a large nutjorlty of the teople of Georgia, North Carolina, Arkansas and Virginia, ast of the Alleghany Mountains. 'the Union feeling exists and Union men are found in irge numbers at Richmond, at Manchester, at Norfolk, at .ynchburg, all along the Upper and Lower Potomac and long Chesapeako Bay, in many parts ofGsorgia and rorth Carolina, and In the north of Alabama. In Teneases the Union men constitute nearly one-half of the opulatlon. Thero are two objsctions In ths minds of the Southern 'niou men to laying down thsir arms and raturning to be Union. Tne first is the belief on their pert, amountag to absolute conviction, that the abolitioniets and adical republican! have such control of the government bat they will prevent them from re-entering tbe Union n a footing of perfect equality with The other Stalea, but rill Impose upon them such disabilities as will practicaly reduce tbem far below tbe degree of sovereign States, ( nd make them mere Territories. They say that if ths | irinciples of the compromise or 1850 had been faithfully , baerved by the North they never would have left the t rnion, and that they would now gladly return to their llegiance if they could be assured that all national legists IUU in (C|uu w iuciu ouvuiu u* vmvu u|iuu kuino priuCIJos. They declare that tt wu a systematic and deter- * uined disregard of those principles on the part of the epublican party which caused the Southern States to ecede, and that it is nothing but a want of confidence in he men whom they believe to be In power at Washingon now, namely, the abolitionists, led on by Sumner, handler and Lovejoy, that keeps the Southern States out if the Union. Tbo second objection which they entertain is this: That f they were to lay down .their arms now, or rather give hem up, and be received back into the Union on terms >r nominal equality with tha other Statee, these aboItionists and the radical republicans would at oace lnau[uratc a aeries of legislation aimed directly at the deitructlon of the institutions of the South, and would not est until (hey had abolished slavory at the South, so far is that could be done by legal enactments; that the aboitiontsts would impose upon them one disability after mother, until at last the burthens would become too [rievoua to be borno, and they would be forced to fly to irms again; that if a reunion did take place now it would he hollow and insincere, because the abolitionists and radical republicans would never rest until they had succeeded in repealing the Fugitive Slave law and in paa-ing in act of Congress abolishing slavery in all the Slates wh?ro it now exists. If the Southern Union men could be convinced that th se views of theirs are erroneous , that the abolitionists in CoDgress are powerless for evil; that their Intsitutlons would ba respected, and that they would be left unmolested in the enjoyment of their own customs and modes of life, and if they could be assured that all national legislation towards them would be based upon the 1 principles of the compromise measures of 1850, more than half of the Southern States would lay down their arms M once and return to their allegiance. The Suite rights people at Richmond are very much divided In sentiment in regard to the ability of the present Confederate administration and the wisdom of the defeu- I sive war policy of the goverament. The administration Df Jeff. Davis has many warm partisaus, who strenuously defend both. But there is a large ana rapidly growing party, embracing many men of tulsnt and influence, who do not hesitate to denounce both in the most unmeasured terms. Thsy declare and argue that the men now at the tisad of the government are totally unlit for that iiosiiion, ind that the defensive policy heretofore pursued has brought the South to tho brink of ruin. Thsy insist that [tie latter at least shall be changed, and that armies be tt once raised to carry the war iato Pennsylvania and Jhio. NEWSPAPER ACCOUNTS. We auhioia a number of interesting items from loin Southern payors and from other sources. REBEL GUNBOATS. INTrREeTIKO COItBKHrOSDKMCE FRO* CAPTAIN UACRT TO CAITAIN LYKCH, OP THB REBF.L KAVT. The subjoined letter was found in one of the rebel gunbeats raptured at Flir.abeth Citjr, North Carolina, after the defeat of the insurgents at Roanoke Island ? Snout Slavic*,) Matt I>*WAimrei?T, Jan. 19,1??2. J D*ar I.r*m?In my Judgment the greatest loss to us pinco the war occurred was yesterday, when Mr. Taylor lied. It Is to him that we are mainly indebted for these new sinews to our naval arm. Your own letter was apropos. It helped the cause along. I am very solid- i tons that the enemy should not bs aware m to tho extent of our preparations, for thero is no necessity of letting lonlractors or any one else, except the few persons enj[aged with this armament as a whole, know the extent ' of it. More is already publicly known of it than I could j wish and I fear the keeping of it to ourselves is out of the question. Still, the best secrecy is celerity; end we must drive ahead. Minor has the guns in hand; most of the engines and boilsrs are provided for; and by the end 1 of thi* week I hope to be able to sey that tn ninety 1 days or less all ths hulls will be ready for the 1 machinery. I should have said the last bull. These difficulties being overcome, then the great one?that of providing officers and men for one hundred launches? commences. Pray take tho matter up, think over it,and let me have the benefit of your thoughts. I Mere is where we are at present. A call has been made I up'n the army for a transfer to ua 'jf all the aallora in i the State, and a law has been passed offering a bounty of I tifty dollars to ail who will ship for the war; alao a law for the appointment of firty lieutenants and mastera dur- i Ing the w sr. The crew of each boat will be Abeut forty, 1 all told. These, both officers and men, have to be trained < and drilled. Indeed, It may be said that the whole ferce neerly has to be created, tor most of lbs offlcore have to | be made and educated; "till, with propor encouragement I and facilities, that, you will agrse with me, Is not an im- < possibility. i We Want one hundred lieutenants to command these | boats; where are they to come from' Judging from the way thingfl look nt preaent, wc shall not bo abla to get ( mere than twenty from tboae now In the navy. The now law for fifty will, 1 snppo?o, give ua, *ay llilrty who i worn in tha old nary, and who, roslgning before eccearlon cor imencod, have not been admitted Into the Con i reiterate navy. Where are the reat to come from? My I r,wn thought* snrgoat,a* a aonroe of eupply, the educated i youth of tho land?young men of the bast Hood?between the agca of eighteen and twenty-five, who have pride, ancestral renown and family reputation to en- i courago thorn and to be auatained. Tho choice ll^s between there and merchant caplnlna, pilota and water i men generally. Then Ihero are wanting one hundred aecond lieulonants, to he rated aa such,or as mailers or mates. Tho rating I* Immaterial they are to he aecond in command and are aleo to arm the gone. Home or these will c rnie Trom the navy and some from thoae who resigned more thin a year ago from the old navy l or the rest, a* in lb' other case, I would draw upon the blood of tho land. DAT, FEBRUARY 2i, 18t " ' ,* * by ? Wood" I now, as yon are aware, ? particular condition in lire; but all, bewevor humbly, wbuee hearts glow wMh patriotism, aud who, in each a causa, karu the spirit Ui dare and to do. These ere the1' bloods" for me Bonis of the boats are already in a State Of forwardness; as soon as they are ready concur I them into school and training and prautico ships. Send llieso ) ouug aspirants of both grades to them for drill and training. As more are launched, eeud oU the clevere-a of those to help as drill masters, receive on board also the engineers and crew; hard's receiving ship near, and draw from her erery hour or so, from sunriio to sunaet, a fresh set to be drilled and "put through" with all the mAi.uis?all of which is to ho done undor tho eyes of regularly qualified ullicers of the service. Now, considering our means and resources, that all the vessels are steamers of the same model, and that they ale intended for bay and river navigation only, 1 think we can manufacture a pretty good set of oUhkrs aud capital guns'crews. Nevertheless, my friend, we shall, in this,have among our brother olllcers, I foar, old notions and professional prejudices to oontcud with. What, make a man a lioutonaut who has uovor been al sea, and then give him the command of a gunboat I It is to you, and such men as you are, my friend, who are caprblu of viewing things by the lights of Ah unbiased mind and judgment, Inst ! 1001c for support and encouragement iu this soheme. If you cen oh-Ik out s better, pray let me have it. But if no betor plan ang gents itself, prey assist me with your influance in gaining oountonanco aud support for this. The whole expedition

is to be subdivided into division* of five or ten boats each, under the general chargo each of a regular uavrotfloer: so a rule, the boats will always move in squads, and the "blood" will always have their leader* to follow. It la to be roady for sea In one hundred and twenty day*, I hope. Not only so, I want your assistance In another respect. I wish you would point out to me such young raon as in your judgmont would make good lieutenauts and inas tore after this fashion. I can't promise appointment* myself, but I can bring their names at the proper lima before those who can bestow appointments. I expect my son John, your pet, here in a day or two. I shall propose to him to try a master's place in ono of these boats. He hss been giving hi* attention to drill, naval gunnery, Sc. If he fancies the idoa,Iwisli to offer him as s pledge of my faith in our ability to have this expedition tratnod and drilled, all ready to put out next spring?in June at any rate. John is s wall behaved and resolute Isd. Can you let him come to you for tlio sake of the school, the drill, and experlouoe, till some of the boats are launched? Re candid, my friend, and don't lot your desire to serve me orubar. ass you in any way. If you can givo him any rating by which, In case or accident, ho would be entitled to bo couaidered as a prlsouor of war, so much the better. At any rate, if you can tdke him as a supernumerary, and work hira up as a middy?requiring him to do any and every thing?it will be the "very duady." Tho boat that is at present proposed us the model for all is twenty-one feet beam, and one hundred and twelve feet long, and six feet draft, with ono hundrod and sevonty-one tons and an armament of a uino-lnch gun forward and a thirty-two pounder aft. I am protesting, with all my might, against such a largo and such a feeble stern gun. That was a clover littlo dash at the enemy off Newport News. How I wish old Neptune, or Mars, or some of them would present you with "chance and opportunity." I could ask "the gods" for no greater favor to you, my friend. Yours, M. F. MAURY. Commander IV*. F. Lyhcii, waters of North Carolina. N. II.?If you can And room for John, say what bedding, Ac., in the way of outfit, he shall bring. He could be ready to join you about 1st February. REBEL SPIES AND THE MISSISSIPPI GUNBOATS. The following Is a copy of the original letter from the rebel Secretary of tho Navy, telling Mr. Brown to get some information about the Union Mississippi gunboats:? Narr Dsi-abtuknt, Rioumowu. July 20, 1881. Lixct. Isaac N. Baowx, Navr Conkbdhutk 3tatk, Mnereis;? I desire to learn, as early as practicable, the character or the vosscls which it is said tbs enemy is preparing at Cincinnati. Reports and rumors declare that irou-clad or armored boats are being built, and that vessels are being thus altered; but the testimony of some reliable expert is deemed important. You will therefore do a good service by employing s competent man to proceed to that city and procure the desired information, to be communicated through you to this department. A mechanic who could and would obtain means of aocurstely reporting the charactor of the vessels, whether steamers or not; and if steamers, whether propellers, their size end armament, and whether and to what extent they are protected by iron; in what manner it is secured, and its thickness. Such details as these, together with the number of vessels being prepared at Cincinnati, or elsewhere on the Ohio. Arkansas or Mississippi rivers, ere important. Perhaps a mechanto now at work on them could afford this information. The department will pay such compensation to your agent as you may deem proper in thla matter. Yours, respectfully, 8. R. MALLOKY, Secretary of the Confederate Navy. NORTH CAROLINA, We have received a copy of the North Carolina Spirit rf the Age of tho 19th inst. From it we take several in. .creating itema to illnatrate their feelings and intentiona is to the capture of Roanoke Island. Subjoined is a ipecimen of one of the leading editorials:? NOBTH CAROLINIANS, TO ARMS. The landing of the enemy at Hat teres was a matter of >nt small import, compared with his having possession if Roanoke Island. From this point as a basis of opera*" , ions, he has control of the waters of Pamlico and Albeaarle Sounds, and consequently the fertile country adic-at thereto. He can attack, almost with impunity, inywhere he pleases on those Souuds end on the rivers , implying their waters therein. Already one or our most maul if ul and thrifty towns has had to be reduced to ashes ' >y its own citizens, to prevent its falling into the hands of I be enemy and being made use of for comfortable quarters. , lefbre we go to press we may hear that a like or worse Ste has befallen Edonton, Plymouth and other towns rnd that many valuable plantations and homesteads have t ?een sacked and burned by the baee invader. Besides, , t is believed a move into the interior will be made, so is to gel possession of our railroads, and thus cut off all ' eluforcements from Portsmouth, the Navy Yard and ! Norfolk, when the attack shall be made upon them. The heartless, fiendish enemy, whom wo have been egarding at a distance, is at our very doors. The lives 1 if our wives end children, the safety of our homes (and ! >roperty are every day becoming more and more in im- 1 ninont peril. Every man'a home and deareat interest# ' ire at atake. If the enemy be not couflned to his lodgnent on our eastern shores, by manly and brava resist., tnce to his advances in the interior, the middle tier of jounties, the capital of the State,and all thesoutheastarn ind northern portions will be overrun by bis vandal uorileK. Nor is this all. The recent successes in Kentucky and Tennessee, and the landing of troope on the banks of Tennessee river us far up in the interior as North Alabama, show us that even our mountain fastnesses are not secure from his inroads. There is no alternative lert us?we must light. The enemy must be met anil conquered, or we are a subjugated, ruined people. If It requires every man to leave his farm, his workshop, hts store, his office and his busi nees oi every description, we rausi cneeriuiiy maite me sacrifice. Let there be no flinching, no excusing of one's self : bat let every on# who can carry a gun ami pull a trigger, forthwith set himself about securing tlio best weapons he can find, ami then rush forth to drive back the base invader. With sueb numbers, courage and cuorgy as this spirit will bring to boar in ths conflict, we have no fears as to the result. We shall bo victorious? the enemy will be driven from our soil?our homes and lovod ones will be protected and saved, and our country prevented from falling Into the hands of the merciless tyrant, who comes to visit upon us murder, rapine, desolation, and alt the enormitiets that have bofullen other sections of our beloved Houth, where woman's virtue, childish innocence unddccrepid age have all been sacrificed to the lusts and passions of our infuriated and devilish enemies. Nhall we hesitate which or the two to chooser To arms th.-al to araul Let there be no delay. Tho same paper, in a long editortel commenting on the Roanoke defeat, says:?The depression felt by oar pcoplo oa account of this sad reverse to our anus, ia of course natural, but iustcad of producing despondency. must and will have the oppoeite elect. Every man In North Carolina capable of bearing arm* should stand ready to avonge their brother*' blood. Their mangled bodies cry aloud from North Carolina soil to be avenged. Nor will the cry be in vein. Our brave men and true who have remained at home till now, will feel that thoir country calls upon every man to do his duty, and they will rally with alacrity to resist the advancements or iho enemy from his Island lodgment on our coast. They now hare acce.-s to important points In the eastern portions of our State, and if not beaten back will soon be in the interior of our State. It can, It must be pro vented by our powsrs and numbers. MOVRMKMTS OF NORTH CAROLINA OFFICIALS. The same^iaper states:?Adjutant Oeneral Martin and itafi left this city on Friday last, in pursuance with an order from Governor Clark,for Weldon and such points In the northeastern counties of this State as be (tionornl M.) may think necessary, with instructions to call into service such portions of ths militia aa may be deemed ne. seesary and eaa be used cfloctively, and make such dlspoilcn of them as circumstances and the ppblic safety may suggest and require for the defence of the State. TOSjmLISTintNT OF NEW TROOPS. K.XM I TIVB I 'KrAKTMKWT iNUHTM CAROUSi, 1 Anj'r GtxeRAL'x OlTiei, Raj Zaun, Feb. 13,1882. ) Fir* regiments of volunteers for tb* war *r* wanted to make np North Carolina's quota of tb* nrmy *f tbo Conredaral* 8tal*s, to whom a bounty of flftaun dollar* per man will b* paid by the Stat*, and ilfty by th* Conrederat* Statas. Tbi* number is expoctod to b? ral**d with as littl* delay as possibl*, and companies at present jrgaulzmg Immediately report to tbls office. Tb?y will b* received by companies or Individuals, and when a full wmpany la tendered four offlcors will be onrnrnission*d. With a loss numbor appointments will be given a* follows:?A eaptatn for forty m*n; first lieutenant for twenty-fir*; **cond lieutenant for fifteen. Th* militia who have been ordered on duty and to be in readiness can still avail themselves of this opportunity of getting Into the volunteer service, and the number so doing will be credited to their respective counties. By order of the Sovernor. J. O. MARTIN, Adjutaut General. CRIMINAL NEOLECT OP REBEL OFFICIALS. The Norfolk Day Book eays the feet cannot be conoealid that criminal negligence 1s chargeable somewhere for the disastrous overthrow of our brave and gallant men it Roanoke Island. It is also very severe on the Secretary of the Navy, who, it says, has never visited the Navy Yard during the ten months of his official life. It also sere that fifty gunboats could have been constructed and manned there to moot this fleet, but that nut a single one Das been built It also says, truly, If the vulnerable points en our extended oast ere to be defended nt ell, let thorn be defended effectively, or at least with some reasonable regard to the overpowering forces which have hitherto been concentrated against I nam. To gar riaon them with a force so Inadequate ue that which fought to th? death at Room ke. Is to oonvert thorn into slaughter pene, and criminally saorifloe the llvos ol our brav* and devoted men. 52. * i Board of Ooancllmeu. t BB8BNTATI0N 0? A KBBBL I LA# TO TBI COMMON ( oounoia?MBCtnwioa om rn tax lbvy fob 1862?AMBMDBBNT8 to tub COMFTBOLLBB'S BBfi- 0 MATB8, BTC. 1 TUis Hoard met last evening, Charles C. Ptaokney, teq.> t Pr.wideut, iu the chair. After the minutes of the previous moeting were read p end confirmed, a communication was received from the 0 Mayor, vetoing a resolution giving permission to ereot a j newspa|ier stand adjoining Touipklua Market. Ills u Honor ants forth sevoral cogent reasons why the side- ^ walks should not be encumbered. g The following commuuieation was then read:? . Mayor's Owioa, New York, Feb. 2T, 1862. To ins Hon. ths Common Cocmtl:? * Gbntibkxn?It affords me great pleasure to transmit to g you herewith an interesting trophy of the recent glorious victory at Fort Doualson, presonte<l through air. r Bennett, of the Hbb.mj>, by Colonel Morgan I,. Hini'h, a Acting Brigadier General, to his native cty of New York, boiug a largo and handsomely made silk ling of the rebellion, bearing the inscription, ''Indies' gift to the t B.ackland Gideuaitcs?may Uoavou crown you with c victory." It is one of the standards of an unprovoked and most C wicked revolt, not only against the constitution and law* g otpur country, but against the moral b?ntim?nt of the oBllized world. Notwithstanding the deteslabiocharftc- c ter of the cause symbolized by tills flag, and the hesitancy of Oongreaa on a like presentat ion, 1 can see no impropriety in our accepting the trophy, but, on thocontrary, deem it eminently proper thnt we should do so. I accordingly rooommend that, on behalf of the Corporation of New York, your honorable body will accept the gift tendered, and direct its preservation in the Guvornor'a Room or ono of our oitv armoriAa af in enm* Ath#F suitable repository, returning to the gallant donor appropriate thanlu for this manifestation of his fllialroiuembranoe of the olty of his birth. GEORGE OFDYKE, Mayor. Ob motion of Mr. Baxnr, tt was rosolvod to acknowledge the reoeptton of the trophy from Col. Smith. A petition was sent in by the Judges of tho Superior Court for the use of the Council Chamber to hold a special 8 term during the month of March, which was granted. <i A report of tho Committee on Notions! Affairs of both Boards advorss to reimbursing the Third regiment of cavalry N. Y. S. M. and the Sixth regiment N. Y. 8. M.; t also to appropriate $12,600 for new uniforms for the : Twelfth regiment N. Y. S. M. The commit toe suggest that, in consideration of the prompt manuor in which the > above, as well as all other regiments, responded to the t osll of ths government, the Common Council should join in memorializing the Legislature to reimburse tho peti- / tinners fur the losses they have sustained during tho I torus of their enlistment. The report was laid over. A resolution was presented directing the Committee on Ordinances to pre|>are an ordinance against the storage I of potroloum, or rook oil, in large quantities. The paper * was referred. The Corporation Counsel submitted on elaborato opinion t in reply to a resolution of inquiry in reference to the } power of the Common Council to impose taxes. He repeats his previously expressed opinion that the Common * Council bad not tho power to impose taxes without the a concurrence of the State legislature. . Tho special order, being the Comptroller's budget for 1962, was taken up item by item. i The following are the alterations mode In the Coraptrolier'sestimatee:? Advertising for Common Council.$45,000 instead of30,000 e Belgian pavement 25,000 do. 100,000 fl Central Park?Maintenance and government of 60,000 00 do. 113,841 I Cloaniug markets \ 8,500 00 do. 10,000 d Contingencies?Mayor'soffloe.... 12,000 00 do. 15,000 , Do. ?City Inspector's 1 Department 15,000 00 do. 25,000 1 Donations 37,3?6 68 do. 80.000 ? Lamps and gas 415,000 00 do. 485.000 lands and places 20,000 00 do. 26,000 I Opening new streets?expenses of 6,000 00 do. 80,000 ? Printing for the Common Council. 70,000 00 do. 60,000 J! Public buildings, construction and r repairs 106,000 00 do. 160,000 i. Removing night noil, oflhl and deed animals 35,000 00 do. 33,600 H Roads and avenues 26,000 00 do. 60,000 g Salaries?legislative department 65,860 00 do. 25,350 r (The addition of $40,000 was for L the salaries or the members of C the Common Council.) * Salaries?Law department 43,108 00 do. 53,108 Salaries?Fire department 42,000 00 do. 30,000 6 Salaries?Unsafe building officers 14,200 00 do, 13,400 . Water pipes and laying 60,000 00 do. 00,000 . Wharves, piers and slips 100,000 00 do. 175,000 / Ths remainder of the estimates were passed upon, and ? the tax levy was completed at a late hour, and adopted t as amended. 11 A resolution wan adopted directing the Legislature to b take stepe to raise the necessary amounts by taxation. The total amount of tho original estimates of the Comptroller's was $4,096,266, and the aggregate amount C of tho reductions made by tho Board were $270,000. 8 On motion of Mr..lone a resolution was adopted, that the Clerk be directed in making up the ordinance to set t apart all ths appropriations over whioh the Common 0 Council hare no control. The Board then adjourned tilt Monday. 11 t Meeting of tit* Commissioners of Public ? Charities and Correction. >j Tne usual semi-mommy morning w sue uommissioners f of Public Charities and Correction was hold yes tor (lay, Simeon Draper, Esq., President, In the chair. n From the report presented by a Committee of the ' Whole, it appears that from the 14th to the 37th of Febru. 11 iry inclusive 443 persons have been] transferred from D ihe city prisons to the workhouse on Blackwell's bland 1 is vagrants and disorderly persons, of which number 118 8 were males and 824 females. n Mr. Devlin, the City Chamberlain, has oflbred to g tnake arrangements by which the Broadway Bank shall g lepoeit the sum of one hundred thousand dollars in the ( Mochanics' Bank, for the use or the Commissioners, in n intlcipation of the passage of the annual tax levy by the State Legislature, providing the President and Cashier of t Ihe Mechanics' Bank grant a certificate not to draw any D intereston said amount, which the manageraof tho Broadway Bank plodgo themselves to retain until the warrant is obtained from tho Comptroller for the aame amount, i No internet to be charged on the certificate. A large number of communications were received from tho superintendent!, wardens and resident physicians of tba different institutions, which were disposed of in the i usual way. 1 The cash receipts from the 13th to the 27th of February 1 inclusivo'amcunted to $481 27. . ] From tho woekly statement It appears that 1,685 per- i son* were admitted to tho institutions during the week < ending on the 15th inst., and the number remaining there I on that dato amounted to 7,093?a decrease of thirty-two < on the preceding week. < Mr. Draper received a laughable petition in doggerel 1 rhyme from uno of the females, sent on the island for six I months on a charge of drunkenness, praying to be ro I teased, and promising to go and Bin no more. Tba Cum- | roissiouers intend sending for her to see whether the I magistrate will not prove lenient and shorten the term i of her imprisonment for the sake of her ingenious 1 petition. i Homicide on the High Seas. united states circuit court. Before Hon. Jadgo Sbipman. Feb. 27.?The United Utatet vs. A'oIAan M. Mitlett.?'The defendant la charged wl'h the manslaughter of John Dtl- ' jon, a seaman on board tbe ship Saracen, of which Millet1 was captain ,by shooting him wtth a pistol. Ibe circumstances wore recently reported, when the investigation was before Commissioner J. B. Henry. The trial is still 1 on. Mr. E. Delafleld Smith, United States District Attorney, for the government; Mossrs. Wm. M. KvarU and Choate tor the defence. Brig Dtmerara Ashore. Bosrojr, Feb. 27,1802. The brig Demerara, from Remedioa tor Boston, is ashore on Tuckernuck Shoal. She remains tight Markets. PHILADELPHIA STOCK BOARD. Piiii.aMi.rnia, Feb. 27,18C2. | Stocks steady. Pennsylvania State 6'*, B3J$; Reading Railroad, 21 Morris Canal, 40; Long Island Railroad, ll>i; Pennsylvania Railroad, 45 Sight exchange on , New York at par a 110 por cent discount. i PiTTLAnKi.rnM, Feb. 27, 1802. 1 Flour dull; superfine, $6 25 a $5 37>?'. Wheat Ann; I saiea 7,000 bushe.s: red (1 33, white fl 37 a tl 42. Corn firm; salea 8,000 bushels at 65){c. a 67c. Mess i?rk unchanged. Whiskey dull at 26c. a 25>,c. FINANCIAL AND" COMMERCIAL. Thcmdat, Feb. 27?6 P. M. The absence of news and tho general feeling that event* of no common magnitude arc trans- ' piring imparted a scnae of feverish uneasiness to ( business circles to-day, though public confidence in the government and in the success of our arms \ is stronger than ever. Uitnnv la nnitA antirf* itill Tim daw I mium on the demand notes hoe led to their withdrawal from circulation, and tho banks are again in a quandary. Some of them are paying out their own notes, which they redeem in gold. Others are using Connecticut and State money which is or was redeemed at par In this city. The sagacious bankers who a few days since refused to receive deposits of government notes at nny price are the butt of mKny jests. Coll loans are quoted at 6 a 7 per cent. The money market will be easy enough by and by, though for a day or two it is possible that the pinch may continue to be felt among the brokers. Foreign exchange is dull, with a downward tendency. It Is doubtful whether first class bills could be sold better than 113. There is a general belief that we shall have cotton bills In market before very long. Another victory or two will i satisfy the reasonable people at the Booth that the , struggle Is hopeless. and tlicr will decide that on i I be wliole it is bettor to sell than to bun. their cotoi Letters (torn the West speak confidently f shipments of both cotton and tobacco from 'eiineat-eb to Cairo and Cincinnati, in the course of he month of March. The stock market opened dull this morning, and iricea were disposed to decline, mainly in \ onsequence of the prevailing want of news, tut in the afternoon a healthier feeling Bprang ip, and all the leading speculative shares *' rere wanted at ar. advance. Bo far as we can ather, the volume of outsido business is steadily scrcasing, and the brokers say that another ictory would overwhelm them with orders for tocks. The doubts which were entertained with egard to the operation of the Treasury Note bill ro being removed by events; gold is evidently iot going to rise to any extravagant premium, mt, on the other hand, the large issues of govern* nent paper in the Bhapo of United States notes, crtificates of indebtedness, and United States tocks, caa hardly fail to cause sooner ir later a vast inflation. Most of this paper rill And its way into the banks, which rill expand on it, uBing their own notes as a irculation, and redeeming them, when required 10 to do, in United States notes. Of the probable iffect of this process upon the stock market the ecent advance of 10 to 30 per cent in State stocks, tank stocks and first class railway bonds enables very one to judge. Strange to say, though the larnings of nearly all the railroads are vary much plater than they were at this time last year, ind there is every reason to believe that the idvent of peace would cause a still further levelovement of thoir traffic, railroad stocks ire not, as a rule, much higher than they vere a month ago, and not as high as they were n 1860 before the troubles broke out. Comparng the prices of this evening with those of yeserday, we note an advance of % in Erie preferred, 4 in Hudson Biver, % in Galena, and % in Rock eland, and a decline of % in Harlem, % in Readng< % in Michigan Central, 1 in guaranteed, 1 in 'anama, % in Illinois Central, and % in Burlingon and Quiucy. The most remarkable change of he day was in State stocks, which declined teavily, being freely pressed for sale by parties rho were buyers at low prices some dayr ince. Virginias and North Carolinas both ell 4 per cent, Missonris 2, and Tennes iees 2%. The advance in these Stata bond* is we stated at the time, was far too rapid ant ixteneive to be reliable. The market closet, itcady, the following being the last quotations:? Tnited States 6's, registered, 1881, 92% a 93; lo. 6's, conpon, 1881, 92% a %; do. 6's, coupon, 874, 85 a %; Indiana 6's, 76; Virginia 6's, 59 a 60; Tennessee 6's, 59% a 60; North Carolina 6's, 68 a 0; Missouri 6's, 52% a %; Pacific Mall, 91% a 92;, rew York Central, 83% a %; Erie, 34% a %; do. ireferred, 58% a 69; Hudson River, 35% a %; larlem, 11% a 12%; do. preferred, 29 a 30; Readlg, 43% a 44; Miohigan Central, 64 a %; Michigan outhern and Northern Indiana, 24% a %; do. uaranteed, 47% a 48; Panama, 119 a 120; Illinois lentral, 63% a %; Galena and Chicago, 68% a %; Heveland and Toledo, 45% a %; Chicago and Rock Bland, 66% a 67; Chicago, Burlington and Quinoy, 3% a 64%; Milwaukee and Prairie du Chien, 20% 21; Cleveland, Columbus and Cincinnati, 109 a i; New York Central 7*s, 1876, 104 a %. Irio third mortgage bonds, 96 a 97; Miohigan Cenl ral 8's, first mortgage, 102% a %; Illinois Central onds, 7's, 94 a 95. We publish below a correct copy of the Trfeaury Note act, as passed by both houses and igned bj the President. It wHl be noticed that he Sub-Treasuror is not snthorized to receive gold H n deposit, but only United States notes. It will H ike wise be noticed that the new six per cent bonda H o be issued under this act will be redeemable at H he pleasure of the United States after five years. H 'his will prevent their rising to a premium, and H ender them a less desirable security than the sixes H tow afloat, which cannot be redeemed for nineteen H ears to come. The old demand notes are ie absorbed at the custom houses, and^| ew United States notes substituted for'them. 'o-day they are held at % a % premium, while^f old is lower; so that we witness the extraordi-^l ary spectacle of paper rising to a premium, and^^ old falling, on the strength of the adoption by^| overnment of the paper money system. UrM lisco announces that he will pay out the new^H treasury notes as fast as he gets them, merely^! aking care that the aggregate issue of old and^H iew never exceeds $150,000,000. The following^? s the act:? l* Ac* to authorize the issue of United States notes, and^H for the redemption or funding thereof, and for funding^! the floating debt of the United Slates. Bt it tnaetrd, <tc., That the Secretary of the Treaaury^H s hereby authorized to issue on the credit of tht^H L'nited btales one hundred and fli'ty miillona of dof^H are of United SUtea notes, not bearing interest payable to bearer at the Treasury of tho Uuitoit^H Mates, and of such doiiominationa as he may^^l deem expediont, not lees than live dodos each; provided however, that fifty millions of said notce shall be in liei^^l >f tho demand Treasury notes authorized to be issued :ho act of July 17, 1861, which said, demand notes sbal^^l be taken up us rapidly as practicable, and the n<>toi^H lerein provided for substituted for them; and, prorided^^H 'urther. that the amount of the two kinds or notm gather Khali at 110 time exceed iho aura of one hundrerH an J fifty million dollar*, and such notes herein autho^^| rizod shall l>e receivable in paymont of all taaea, Interna duties, excise*, debts, except duties on imports, and de^^B tnand.1 of every kind due to the United states except^^B duties on Imports, aud of all claims and demands againa|^| the United States of ovsryktnd whatsoever, except foi^^| interest utx>n bonds and notes, which shall be paid It^^B coin, and shall also be lawful money and a logal lender it^^B payment of all debts, publio and private,within Un^^B United Slates, except dulios on imports and interest ai^^| aforesaid; and any holders of said Uutted States notes de^^H positing any sum not lava than ilfty dollars or some rm<l^^B P'.e of iifty dollars, .::tli tlio Treasurer of tlie rnito^^l Slates or oithoi of the Asaiatant Treaauisrs, sha^^B receive In Axchango therefor duplicate certitlcates c^^B deposit, one of which may be transmitted to the Sccrc^^B tary of the Treasury, who shall thcreu(ion issue to th^^B holders sn oqual amount of bonds of United State i^^B coupons or registered, as may by said holders lie desirei^^B bearing -interest at tlio rate of six per centum per annuo ^^B payable setni annually, and redeemable at Iho pltxsur^^B of the United states after five years, and payable twenV^^B years from tbe dato thoreof; and such United Sutc^^B notes shall bo received the same an coin at l^etr t> i^^B Vjlyo, in jaynicct for apy loans mstbo hsfearu^^l sold or Tie^uifatod by the Secretary of the Treasury, an^^B may be re Issued from time to time, as the exigencies i^^B the public Interests may require. ^^B Sec. 3. And t* 1t further enartrd. That to enable tb^^B Secretary or the Treasury to fund tbe treasury notes an^^B Hosting debt of the United States,he is hereby authorize^^B to isruo on the credit of the United States, cou|>ou bondi^^H or registered bonds, to an amount not exceeding ffto 000,000. and redeemable at iho pleasure of tb" t n.< - ^^B states after 0v? years and payable t* ,.,y yt at^^B from date, and bearing interest nt the rate of at^^H per centum per annum, payabln soml-annusII.'^^H And the bonds herein authorized shall bo of suc^^H denominations, not lo.-s than #50, as may tie tormined upou by the Secretary of the Trsa ury. And the Secretary ol the Treasury may dispose puch bonds lit my time at Iho markol valuo t..?roo^^B Tor the coin of the United Slates, or for any of tl^^H Treasury notes that hnvo lieen, or inay hereof be, issued under any foimor art of Congress, or for tl'^^B I inted States note* that may be Issued under the prov.'^^H BtOBB of ttiis act, ana all slocks, bonds, and other aerui. lias of the United States held by Individuals, oorpor lions, or associations within the t/nlted Htntoa. shall l,^^H exempt from fixation by or untW .State authority. . Hec. 3. Ami le itfurikfr maet'rt, That tho Unit") Stab rotos and the coupon or registered bonds authorized t this act shall be in auch form as the Secretary of tl Treasury may direct, and aliall bear tho written ' angraved signatures of tho Trc lan'or of the Untt<!^^H States and the Register of the Treasury, and also. vi lencn of lawful ieaoe, the imprint of a copy the seal of the Treasury Department, which Imprh^^H 'hall bo made under the direction of the S-cr tary, after the aaid notaa or bonds shall be rccoiv. 'rom tho engravers and before th?y are iaaued; or t\ laid notea and bond* shall be aignod by tho Treasurer the United States, or for thcTraasurcr by auch perso< ts may be si*eially appointed by tho Socretary of t. rrangury for that purpose, and shall be countersigned I the Register of tho Treasury, or for the Register by go persons aa the Secretary of the Treasury may special tppolntfor that purpose; and all tba provisions of the J ntltled "An act to authorise the Issue of treasury notes approved the 23d day of Dee., 1867, so far as thev can , ipplled to this act, and not inoonaistent therewith,n! tiereby revived and re enacted; and the sum of $300,0 la hereby appropriated, out of any money In the trcasu not otherwise appropriated, to onablo the Secretary the Tronsury to carry tli is act Into effbet. Sec. 4. Aral U11 fnrthtr enccied, That tho Socretary the Treasury may rseaivn from any p-iraon or persons,I Miy corporation. United States notes on deposit for i less than thirty days, in sunn of not less than one hi lied dollar-, with any of the Assistant Treasurers designated doposilsri'>s of the United Jtfntes nutfo>rb by the Secretary of tho Treasury to receive tliom, w shall Issue thcrofor certificates of dopes made In such form its the Searetary of t Treasury shall prescribe, and aald certificate* of dap<^ shall bear interest at the rale of five par centum par t

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