Newspaper of The New York Herald, December 28, 1866, Page 4

Newspaper of The New York Herald dated December 28, 1866 Page 4
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NEW YORK HERALD. # All KB UORlM? BKNNKTT. IDITOB AND PROPRIETOR, ?PP10I N. w. OOMin OP PULTON AND NASSAU 8TD. JOB PRINTINQ of eery detrrintion, alto Stereotyp tug and Knpravmg, neatly and promptly executed at the on cut rates. Voliimo XXXI ..No. 3UU, AMU-iR VI S.N T < THIS EViSMlMt*. BROADWAY TWKATBK near Broom* ?Orel?Tun Tboi-lb's Lawnk?Lira Indian. NKW YORK THKATItS. Broadway. ?pposlla Not Tork Hotel ? CbNDBILLOB. TIIRATRE PRVNCAIi, Pom loenth ?'.root oo?r Sixth ??CUUe.?HliUoUAU. GERMAN TIIAI.IA T1IKATUK No. M4 Broadway ? !>?.?> Mahlih* M WLEKftTUBCK?IIJul PBNsTkit IX Jlcstkn Stock. 8THINWAY Fonrvonth street ?IIrand Co.ncxkt POu tub Uknbkit or Dm Mcik-i. CLINTON HALL, AAiorplacc ?Vxi.enti.\? Youbdkn, tub C KlCA'f Poltnatiomal .Ill MIC. DODWORTII'8WALL 838-tiOAiI?**?.? PKO'liiOR H?ri *11.1. I'KuroiiB iim MuiAci.ita?Tub Head in tub Air. FAN PRVNOtSOO MI.4 ?* ?8> Broil fi', o-milt* Il.( Metro not. mi it Hoi ? i T i II 111 Ri.tioriAt I*r;arvii. *11.NTH, KlNCINU, Dan*?6 and Bokle.rubi? Fai.linc , urioi tic LOVA * lUMBLDA FIFTH tYUNUB OP HtA HO IS1?, Noi. 2 ant ! VY-'et Ewentv'.fo irth M.-ea:. -B iuwo -rn'J ?IiN*rai??. - lr.ii >.*t i ( MlNSTI'.BLiV HaI.L-.OS. llCllI.EAQUB3. AC. ?OllSAT EXl'ECTA TKIN3. KELLY A '.ROM'S MINRPRlLB. 72? Protdwny. opno *ltr ;Iie New York lotil.?1* rn .?R -ianti oanjbi. 15cc as PmCTUO, HIIR1.U30UK1, Ac.? SOUUITT with a V?Ioi l'cn FaKLB r RAN0AI3. TONT PASTOR'S OPL 1A 10 'S3, 211 Po renr ?0 >*! 1 TorALIbB?Niro.ia, BALLBr Ac.?Littlb Tom Tuokbh. CHARLEY WITTTE'H CO AHIM ATION TROUPE, at Birch iiiics' Hall, IT.' rtroajtrsv?In i Vabirtt or Lt'im Arc liAlfnUABI.B KNTBBTAINKBNTJ, CoRlS Dt llALLKt AOL Tub Uoliikn Azb. HOOLEY'SOPSltA HOUSE, 'Iruo'clm -Ethiihan Ml?. ?TOBIJIT. BALLADS, Bum R.JRUKJ AND PAXTOUIXRI. MRS. P. It. CON IT AY'S PARK Til HA TRE. Brooklyn Tub Foktt Tmietkj. BROOKLYN ATUiENI'.UM -\yrih A Co's Okt-at Pan nto na tiif.o-a or Tbatklj -n Huhoi-b and' Ankieu a, and Voyaoe Aruoiw tub Atlantic. COOPER INBTmiTft. Antor Place.?Dn. Colton's Ex mm tion or rna Lauuuinij CI as. PRESBYTERIAN CHURCH, oornar of Orand and Croshr *tre'U.?Orbat MajoniU Fair in Aio or Tim IIall and Aatluh Fund NEW YORK MUSEUM OP AN ATOMY. 818 Proidwar. I.rcTTicmi with thk Oxr-HruHOCKN Microscope twic* daily. llrAU and KiOut Ask or I'ROxaT. Open from i A. M. tlU 10 P M. Now Vork, KHilay. Doorinher US, I SDH. THE NEWS. EUROPE. The Newfoundland telegraph linos rotnained disabled during yesterday and last night. We did not, conse quently, reoo vo our daily cable news report. Otir special despatches and Correspondence from Ireland, dated at qoeonaiown on the 13th and Dublin on the 12th iust, go to allow that the Fenian revolution ei, lament remained at fover heat. There wore siv era British *-ar ve.-wuls In and off Quoenniown harbor, and itio "loyal" and wealthy inhabitants of the rural di*. tr-iciK wore docking into the garrisoned towns for safety. (Stephens was thought to I hi in tho South. It was said that the "rising" would take place simultaneously In the the counties of Doric, Walerlord, Limerick and Kil kenny?the Fenian centre thus forming a sort of headquarters quadrilateral. THE CITY Wain, snow, wind and frost preva'lea yesterday thro igheat the entire day The storm a as very general, causing great damage to the telograph wires North and West ? Tho Board el Health held its usual meeting yoatcrday. Pr A M Maclay was appointed 10 the vacant Inspec torship croatod by the dtsin ssnl of Dr Farman. A com munication from the United Slates Consul at Bevrout, Syria, on the subject of Imporletl rigs from the Levant, Infected with cholers, was referred to the Sanitary Com tnittoe The CMnmtsaionur* of Chanties and Correction* met yesterday. A c im-.nun cation was reeoived Com tho Ohalrmao of tho oraruitluo on In spec i ions at B llavue Hospital, detailing the circumstances in thecasoof Ed ward r It.u'ou, in wbicu tho coroner's jury censured tho oflloers or Uial institution. Tho report says that no Warna can be attached to the house surgeons Bacon teootvod aU the attention he requrod until he was dis charged. Tlio lloiu-il of Supervisors met yesterday, but adjourned for want of a quorum. The Select Committee rin the new P.xt Office sit* In Chly Hall Park hare finally agreed to let the government tiave the required ground for $"iOo,OOJ, and Po-tmaster frenerai Itandall has rigniiied Ins latealion of immedi ately applying to Congress for the necessary appropria tion to purchase tho ground and commotio th? building. At a meeting of tho Polytechnic branch of the Amer ican Institute last evening an int' retting paper was road on tho question, 1 Is Cue earth a solid?" and many new discoveries and mventlous wore disc s,ed. The Alpha Delia Phi Hocioty gave a dinner fast oventng at Helmimieo's up town establishment, to tlio various members aad guest i of the organ: tat'on. Theodore W. ?iwigtit presided Addresses in response to toasts woro delivered by A. 8. Sullivan, J. 0. Clioato, Clarence twwnrd, and otliora. , The obsequies of the late Minister Plenip' 'entlary 10 Ihc Untied Stales from Portugal, Scnnr J. C. D ? Fl gsiuere e Mora, look piaoe yesterday morning from Sis. Feier and Paul's Catholic church, Williamsburg. The teroraoiii? wero very imposing, llev. Sylvester Ma lone, pastor of the church, pronounced the eulogy on Ilie or a.eiu An iint?irtaii' action has linen instilutod ia the Supreme flour i against Charles D. l omoll, ex-Street Commissioner, 4he M irnr, Aldermen an I Common Council of Now Vorfc, Charging them with having defraudod Uio city out of, amd unlawfully convert*1, th" sim of $239,013 '3 Copkw of the complain* s and affldaviU were yesterday died in tho of 11 a of the County Clerk, and also served upon the defendants Tue papers are drawn In the Bamc of Christopher Pullman and Je -pli B. V'amum, .Ir. The cam of John Duvnlm A Co., charged with exten sive frauds upon the Internal Revenue, was resumed weMrrday hy t'omni'** mar Nawton Tba avldenco was comparatively unimportant, and tha case was adjourned Colli the 4th of January. Frauds upon the revenue ars not confnrd to whiskey aiiillam alona Ills known that asm* of our largest Qllk an1 lace importers have perpetrated huge swindles Upon tho government by means of undervalue) invoices pr other con'rivanoea which they have Invented to moot present emergencies Oue Importing house aionc was Compelled a few weeks ago to pay $#0,000 In gold to? pn attempt to evade the law C We publish Ui a mormoit atatlatics ahewlngthe amount pf buainosa dlscliarged In Ah# United Nlates Court of thle City fbr the past year The bualnea* U yearly on the Increase Tho National fUram Navigation Company's steamship flbuveiis Captain Th?mj?aon, will anil to-morrow (Nalur ?ayh at I* M., from p er No 4T North river, for Liver ?4, at Qieeaflowo to land passengers and eight The Dee eerew ate trash I p M'trlmac, Captain Van Men, 111 u.l from pier Ne M North river, to morrow (Satuf yt, at 11* M , for Havana, frow whence ahe will pro I to New Oriaaaa Tba mall* for Havana will dooo I the Peat OfBoa at half past 1 P. M. I ^ 1W? tea whip Fung Sbuey. Captain Wadaworth, of the 4hok Mm lias, will leave pter No. IS North river, at 3 P. ^ n ? ear aw iqatardayi, for Now Orloaaa direct J Tba aleak market cloa?4 trm yautariay after being aa fplVt* OoM was Irmar aad cdoaad at 133*$. ' There wm bat HUia tmsiaeaa trsaaaotod la com move tat ?rct?a > sotnrlay. the domaad for almoat all eommodl i frying oootard (a the Immediate aacoaaltiaa of the ratwao g.aiMlly, bowovor. www aot eaaemielly *taa ruin?I kail aad hoary < effoo wm Oa 'CHaago loaf wm more estiva aad to. a higher. Wheal wm Waady, whiia oora aad oau . dull aad heavy Fork WM a NiV.e Armor Beef M rated qotot FiatgkM war- qaiat bat auady key wm dal M? aomiaaL Fwraleum favorad tba tfUOSIXAHlOUl ?h. ?ewi (tarn Vara Ora* l? by way of Now Oriaaaa ul dated ike Slat. The Minister of Foreign Aflhln ad drawee the people of Mexico, In the name of the Empe ror, on the anbjeot of tbe national Congress. Be eon cludee by saving that Marshal Uaialne baa rooeived in structions from Louis Napoleon to co operate with Maxi milian iu preserving peace and order and to render bis governm >ut alt the assistance possible as long as the French troops remain on Mexican soil. The retirement of tbe imperialists from Sau Luis Potosi and Matchulba is coullruind. Our city of Mexico letter, published this morning and dated December 10, gives an account of tbe inside workings of the Imperial party at Orixabe whew the question of empire or abdication was ostensibly under discussion. Tbe facts developed In this document lead to the conclusion that a change of Internal policy la all that Is contemplated by the Imperial government We have flies from Bermnda dated to the 18th ef December. The Royal Ga.-rtte la pleaaed to learn that there is to ba anothor attempt made by an American company to establish steam communication between New York, Bermuda and tbo West India Islands. Tho British war steam' rs Wolverine and Minstrel arrived at Tlorm iila from Halifax. Tho Wolverine having coaled with much c\pcdit!<>u left on tho following mornin,' with acit.'ed orders The tfixty-fourth regiment of English In'antry is expected at the islands from Europe. A despatch from Fort Laramie says there is uo reason to dntiht the full truth of the report of the wholesale massacre of three officers ami ninety privat-s of the Second United Stales cavalry and Eighteen'U United States infautry at Foit K-irnoy on t'n 231 inn. Tho massacre took place at Fori Philip Kearney, in Da.vtita Territory, and uot at old Fort Kourney. It Is f.irthor reported that the In Han tribes h i I mustered to tho nunibor of qlevru tho win l for com man cause against the whites in i akoia aud Montana lcrritori-'s. In tbe Fonian trials at Swcotsburg yesterday, Michael Crowly was found guiliy, but ecaten u was postponed on motion of bis counsel, who claims an arrest of judg ment on tho ground thai tho jury .should have been dis charged without ftpidoritig a verdict, as they reported at one lime that they could not agree, tiilgan, Morrill, CarroH, M'-D maid und Howard were all discharged and Micro rem a i iin but oue of the lot, Crawford, yet untried. Three persons out of a canoe lend of nine were drowned in tbe St. Lawrence river at Quebec on Christ mas morning, the canoe being capsized by the floating ice. Another writ of injunction against tho Bank of Upper Canada was Med in the Chaueery Court at Toronto, < anada, on Wednesday. The wolv es are unusually numerous in the vicinity of Ottawa aud are committing oonsiderablo depredations on tbe sheep. The steamship Emily ?- Souder, which loft Charleston for N'?w Yoik on the 28th, run ashore at Rattlesnake Shoals, but sustained no serious damage, Sbo was rescued and returned to Charleston. The wall of a building in process of demolition full in Philadelphia yesterday morning, killing ouo man and soriously injuring several others. Charles Patterson, belonging to the navy, shot his sister, in Piiiladelplilo, yesterday, badly wounding hor in tbe hoad aud breast with ducksUoL Sho refused to lcavo a house of ill fame to which she had resorted to escape the cruel treatment of a stepmother, and h" shut hor, ns he sa d, because he preferred seeing her dead to leading such a life. About noon yesterday two men robbed the olBro of C. P. Bayard, in PliitaJulphia, of over $290,090 in govern ment. bunds aud local stocks. They escaped with all their buoly. Tho alle cd murdorers of coldiors in Nashville on Christnius night were placod on trial yesterday, in evldonco it was shown that (lie policemen shouted for Jell Davis during tbe aluuy. Tho proprietors ot the three principal hotels in Boston ' were arraigood before tho Municipal Court yesterday on the charge of violating tho liquor law, and were fined llfty dollars em li ami sentenced to t' ee months' impris onment An appeal was taken, and bonds givon for future appearance. Three fatal cases of cholera appeared in Cincinnati last Monday. The violins all belonged to one fhmHy, aad two other members are qmte sick. A New Conflict on the Status of the Rebel States. The condition of things in the South baa been of late as badly mixed as in Mexico; but ac cording to present appearances, from the late decision of the Supreme Court, tue conflict of authorities, from Virginia to Texan, will very soon be "confus;on worse confounded." This conflict is already becoming so sharply defined in various onuses and places tiiat with the re assembling of Congress after New Year's the attention of the two houses will probably be drawn to the question of some decisive course of action in reference to the present status of the rebel States. Wo understand that a general order is in preparation by the President, to bo directod to the commanders of the Southern military departments, informing them ot the Supreme Court decision against the illegality ot courts martial for the trial of civilians, and directing them to confine themselves strictly to military duties, leaving judicial questions to the civil courts. An order to this effect has already been issued to General Schofield, commanding the Department of Virginia, in the suspension ot the military trial which he had commenced in the case of a Dr. Watson, charged with the murder of a negro, and as having been un justly acquitted or too loosely tried by the local magistrates concerned. A similar order has been given to General dickies, command ing the Department ot North and South Caro lina and Georgia, in the countermanding his military orders superseding the local civil au- ! thorlties in various tli.ngs, among others set ting nsid on order forbidding tbft:ule of any person or persons by the local courts except tor crime. Thus far, then, the President re,if- | llrms the restoration of the rebel States to the j status of loyal States. His Southern orJ-rs, based upon this aforesaid decision of tbo Su preme Court, on tb? Indiana military trial case of Milligan and others, supersede bis own Southern military course of supervision hither to pursued, as well as certain laws of Con gress pushed at the 1 ist session. T!io question lim.s comes up in a peremptory voice, how far c m Congress proceed in ita work of Southern reconstruction without coming into collision with the Sopreine Court "as now constituted?" W e are uext informed, in a despatch from Washington, that a case is soon to be made beture tho Supreme Court which will involve the question whether Alabama is a State of the federal Union, or what her present status is if she is not a State. This case is probably an appeal from Judge liustecd, United States District Judge for the district comprising the State or part of the State of Alabama, in a matter upon which he decided not long ago that the payment of a debt in rebel Confeder ate scrip U no payment at alL In any event the decision of the Supreme Court upon this appeal will be a decision of more than ordinary importance, aapecially If tba court shall assume to overrule the decisions mad* after a four years' civil war by a mHlioa of Union soldiers in that flasl appeal to tbo bayoaat Meantime we have a despatch from Charleston which says that a member of the State Senate of South Carolina, n certain rebel Colonel Weatherby, reports that the President had given him his opinion "that the Southern Statea, through their Legislature#, should reject the proposed constitutional amendment, but in such terms as not to give offence to those who are urging U upon tbe South;" and that such action, the President believes, "would be sustsinod by the Supreme Court of tbe United Ststee?at least be had reaaoa to hope that it would." Nov there may be something more in this than in apparent upon the surface. It is'a ciftious fact at any rate that, notwithstanding the late overwhelming popular judgments of the loyal States upon this amendment, all the rebel States havo Indignantly rejected it, and that South Carolina, the last to act upon it, has rqj acted it by a more decisive vote than any other of those States, there being only one voice in her Legislature In the affirmative. It is thus ap parent that the President's continued opposition has resulted in a coalition of the excluded States against Congress, and that if we may be lieve the report of this Colonel Weatherby Mr. Johnson expects, from the intervention of the Supreme Court, a viotory over Congress in n decision which will justify him in the enforce ment, if noceasary, of his own peculiar policy against Congress. Wo are inclined to believe this report of the rebel Colonel Weat herby, from various circumstances, and especially from the fact that Judge Magruder, of Maryland, a Southern rights jurist, is working very indus triously against the United States authorities to carry up certain cases of tho sale of negroes against tho Civil Rights bill into tho Supreme Court. Aud yet again, Governor Worth, of North Carolina, an ex-rebel, not fully recon structed, looks to the Supreme Court for deiiv cranoe. Here, then, we have the [elements of a new conflict with Congress. The issue, in the appeal from Congress to the people, has been decided by the people against the President's policy and in iavor of Congress. Cun the Supreme Court reverse the decisions of the war and of the people of the loyal States ? If so, then one man of the Supreme Court holds the destinies of this country, peace or war, subject to his ipse dixit; for it appears that upon this lato Milligan decision the court was divided five to four. One man against the decisions of the armies and navies of tho loyal States in a four years' civil war; one man against the ovor whelming popular verdict of those States, as pronounced in the late elections. If this thing is attempted, as expected, there will be a new conflict, whieh will inevitably end in a thorough radical work of reconstruction, arid hence the necessity of an understanding of the position of the Supreme Court now to avoid this danger. Tho report is abroad that the court is relied upon to upset the pending constitutional amendment in a decision which must necessa rily involve the legality of Congress and all its acts of the lust five years and declare the war a failure. Uuder tho Milligan decision there is already a movemont for the release of Mudd, one of the confederates of lioolh, the assassin, and under the sumo authority tho President himself, in the matter of the military trial of the Booth gang of traitors and murderers, may be held to account. But the question 's,"shall one man in the Snpreme Court stand in the way of the loyal States and of Congress in reference to Southern restoration? And th? answer de volves upon Congress. The Pnpo on His Kinbnrra?nint<nli. No on* can read the address of Pope Pius to the French troops previous to their depar ture from Rome without mingled sentiments of pity and surprise?we wHl not say of indigna tion. It was to be expected that the occasion would call forth sonic strong expressions of feeling, but we were certainly not prepared for the extreme bitterness which his Holiness manifested. Common prudence, if not com mon fairness, should have prevented him utter ing the slanders and insults which ho gave expression to in regard to tho Italian Ring and people. Does he suppose that the world can be brought to exhibit any greater degree of sympathy with his misfortunes, or that the Italian nation are to be conciliated into' respecting what he calls tho rights of the Chnreh, by his supposition that "Italy would consider itself undone if there still remained a corner of the land (meaning Rome) where order, jiiBtiep and tranquillity reign?" This sneer, unfounded and absurd though it is. and the equally unlmppy allusion to the Tarpoi.m rock, will certainly not contribute to lessen the difficulties by which he is surrounded. Hard words are but poor.substitutes for foreign bayonets. Far better would it have been for his personal Interests and those of the Church if, in imitation of tho example of his Divine Muster, he had spoken of his injuries, though as yet only anticipated, in terms of charity and forgiveness. It is strange that where there is such a stronr conviction of helplessness, and where there is so much to be ga:nod by conciliation, there should be such a dogged determination to yield nothing as is manifested in this address. It is plain trom its tone that bis Holiness un derstands no middle term between resist mee an l flight. lie will cither continue to be an absolute ruler or he will be an exile. As the condit'ons by which h.? has been maintain"! in the former position havo departed with the French it is manifest t iat on tho first growl inga of the apprehended storm he contemplates following in their w ike. It is a pily that in a crisis like this there is not nt the head of tho Catholic Church a Pon tiff of broader views and firmer nerve. Such a man would at once rceognisso the impossi bility of maintaining longer the system which bus become so odious in the eyes of liberal Europe and which is looked upon with dis favor by the great majority of Catholics them selves. Seeing this he would endeavor to ob tain for the Church the best terms possible, and, abovo all things, seek to secure Rome as the p<-rp<*tual coat of this Papacy. It seems to us that if met in a spirit of conciliation and liberality there would 1 e bo indisposition on the paid of the Roman people to com* to such an agreement. It is now gen erally admitted that It would not be desirable to rnako Rome tho capital of Italy; so that this onca favorite idea would offer no obstacle to its continuance aa the residence of the Popes. Some plan could easily be hit upon by which a b mi tod civic jurisdiction could be given them, which would not be likoly to clash with that pomeaaed by the head of the nation. But under present circumstances we tear that inch an arrangementjvill not be possibles The recent declarations of Pius seem to forbid the hope of any accommoda tion being arrived at The French Emperor fore saw thia when he threatened him with the loss of hia friendship if be fled from his territories. But aa hia Holiness bolievet in prospective miraculous dispensations in bis behal( and baa loit all faith iu Napoleon's promises, it is pretty certain that he will follow the bent of hi* own convictions, wbioh tell hia that his health will be best consulted by a speedy re moral from the malarious atmosphere of Koaa. The Notional Baoka-What HkaaM kt tha Policy s^h Kofari to Thwau When we have urged that the National hank system was a monstrous monopoly which ought

to be abolished we meant that it was so with the privileges given to the banks by tbo gov ernment and with the support thej received from the government. There is no objootiou to the existence of these banks simplj as pri vate business arms, unconnected with the gov ernment, just as our Qld banks were, and as all private business ought to be. Most of them are very respectable establishments and a great convenience to the country. We like the uniformity and national organiration of them under an aot of Congress. But to giving them the privilege and profla of a national currency, based upon the credit of the govern ment, without any consideration or payment in return, we aro utterly opposed. This privi lege, which is in the possession of a few indi viduals comparatively, is worth a vast sum of money?twenty million doMars a year, at least; for we must reoollect that tho banks draw interest on the bond ^deposited as security for their circulation, and at the same time they are getting a profit of seven to nine per cent on that circulation. We do not overstate the ?mount, perhaps, when wo say that the banks mako fuur'een to fif.een per cent a year in lliis way on their capital, without reckoning the profits of their ordinary banking business in othpr reap cots. Now, we proposo that tho people and the government shall take the profits of a national currency instead of a few capitalists. What more natural und proper than this ? Tho won der is that the'Secretary of tbo Treasury and Congress have not seen before now the foroe of this simple proposition, llow is it to be done? Nothing more easy: by withdrawing the na tional bank currency and giving U3 in place ot it legal tenders. Tho legal tenders cost the government nothing. It can print three hun dred millions of them, and with that umount "buy up and cancel the throe hundred millions of interest-bearing bonds which the bunko have ?deposited. Thus, instead of the banks drawing the i itercst?nearly twenty millions a year?the gov warn lit and the country would save it. ?That is the difference. And is not a legal ten r currency as good as that of the national ba.vj? We think it is better and safer, and believe tho people would rather have it If Ih ?,? banks or more bunks choose to carry on a ' anking business they could do so on logal te rders. should have tho advantage of a 11 liform currency, based upon the credit of the government solely. The amount of paper in circulation would not be Incron "d; the chang ? would bo only from one kind to another?from an interior to a superior currency. Let Con gress, then, go to work and withdraw the national bank circulation, and thus a'l bank" would be compelled to use legal tenders. Tho Comptroller of tho Currency and other advocates of the national bank system pretend to argue that it would bo dangerous for tho gov ernment to issue all the currency lor the country on its own credit, and that it might be lempted under certain circumstances to circulate much larger amount than would be needed or snfe. This is simply absurrf. The government has the usme power to do this through the b: nks. As llie guardian of the public inter ' its it is no more likely to create or issue a ?rger amount of currency than is needed than ?o confiscate our property. Congress is all poworfnl over the snbj-et, and would make, doubtless, proper laws for regulating the amount of circulation. Tho government?and by that wo mean both Congress and the ad ministration?can bo trusted in this matter. Private associations of capitalists, like those of tho national banks, have naturally a tendency to monopolism, to look only to their own inter ests, and to mako nH they can out of the pub lie; but the government looks only to the wel fare of the whole country. There is no danger in having a currency issued solely by and on the credit of the government. Tho next step after making a uniform legal tender circulating medium should be to reduce the burdens of the na'lonal debt and lo put it through a piocas of liquidation by p -ving off nil the debt as it becomes due by legal tender:,. If thtre should not he enough in the Treasury lor this purpose at the time, then issue ns many more as may be needed. Let tho holders of these have tho privilege of buying with them consolidated stock, bearing four per cent in terest. If money becamo too redundant the surplus would find its way to investment in these consols. Four per cent wi.ald be a higher rate of interest than the British consols bear, and would be ?ught by those having surplus capital and wanting safe investment, if the legal tenders in circulation rheu'l not be thus cor verted that would he evidence that Hi" currency or money nflost rould not bo re dundant. The four per cent consols always open for the conversion of legal tenders would i?v e safe regulator of the circulating medium. No injustice would be done to the public credi tors, because they would ba paid in the sumo money they loaned or contracted with the government for. The national debt would soon be greatly reduced and conld be liquidated in less than twenty years. The whole community woul l be ben filed by a gr-at reduction in taxation. Our financial system and comin'Tce would be emancipated in a great measure from the iufiuereo of foreign capitalists apd money traders. We should commence a new and grand career of independence in monetary affairs. These views we commend to Congress, and hope body will act upon th.-m before tho close of the present session. Tiik Stkvkxr No rn Carolina Hti.t. a Lotal North Carolina Prootcttin.?It oppearti from the K deigh (N. 0.) Standard, of the 2.1 th l.tst, that the bill lately introduced ia CoRgress by lion. Tlinddeus Steven*, for the reconstruction of North Carolina from the bottom to the top, ia a loyal North CaroU** idea; tor the 8iandard says that?"To put all doubts at rest, we now state emphatically that the bill referred to, and which propoeee gradua'ly but dually to super sede the present Stale organisation setup under martial law, was prepared by Messrs. John Pool, Jsmos F. Taylor and W. W. Holdeo, at the request of Mr. Stevons, and was Introduced In the House by the latb-r ou the 13th of Decern* ber. These persons are solely responsible for the measure, and th?-y are prepared to stand or fall by IL" This W. W. Holdt-n (formerly and we believe now an editor of the papjr in question) wa~ President Johnson's Provisional Governor of North Carolina, and surely he ought to know what the State r quires. Gov* ernor Worth, howevor, denounces tbe?e North Carolinians and their scbnmc, as subversive ef the constitution, the old seoeah war cry, and despairing of o national convention in which tne rebel States would horn their Southern constitutional rights of equality with the lojnl States, he looks to the Supreme Court for relief It in really remarkable how this court in rising into favor in the rebel States. But why not T Its judges aro largely of the old Southern rights school, whose opinions of the constitu tion go behind the late rebellion and to the Uuion as it was under Buohanan. The Mexican Kaleidoacape?JMaxlalllaa Itedl vivas. A telegram from Washington informed us yesterday that "Minister Campbell has been instructed by our government to remain at New Orleans for the present in order to await future events in Mexico or for further in structious." From the eame or some other reliable source we loarn that General Sherman is now on his way from St. Louis to rejoin Mr. Campbell at his present point of detention, where the Mexican embassy has just hove-to. Simultaneously with thi; news comes the more startling and uncxpecod intelligence that the imperial cause is looking up, with u hope, bow-*| ever faintly indulged by its fri ndn, of final triumph, provided there be no armed inter ference on the part of the United States. The mainstay and backbone of this hope is the pos session by Maximilian's government of n mili tary Mexican force of thirty-fivo thousand regular troops, with an auxiliary foreign force of some twonty-five thousand more, a total of about sixty thousand men, well armed and fed, clothed and paid as well n* circum stances permit. In regard to their pay, our city of Mexico correspondent asserts that it is handed to them "regularly every morning." In thin estimate of the imperial army the sol diers of France do not appoar. Of these latter there are at least twenty-five tbonsand in the country, who, if counted at all, must go to the imperial side. These are very good and weighty grounds tor a revival of hope in im perialist bosoms, while there is still another which, though it comes in here last, is by far tho weightiest motive, and that is the want of unity among the supporters of the liberal cause, who aro already flying at each others' liuoats in good old Mexican partisan style. They have never had much system since the fall ofPuebla and tho consequent dispersion and demoralization of the Mexican army; but their condition now threatens to be infinitely mor/i desperate, since they are turning their arms against each other. If their disagreement should prove to be tho fruit of imperialist diplomacy it will rank as one of the ablest strokes of Maximilian's stater un?'bin; for it enables him to part with tb? French and to observe a masterly inwtivity while his enemies hew each other to pieces, aud thus in gloriouslv make an end of liberalism. Now. under all these circumstance, it is very signifi cant aud worthy of noto that our wandering embassy ooraes to anchor tit New Orleans to nwnit further events or further instructions. One short month bIuoc, or at most six weeks, the imperialist onus; was pronounced fn ex tremis, and Minister Campbell went forth to ex plore for a government known as that of Juarez; but without success. Like many an other explorer, he failed. Wo put it in that light in order that the Minister may derive soino consolation from the failures of others. Juarez oouhl not be found. In fact Juarez Is rapidly lapsing into a myth, like the Scandina vian Odin. It was no fault of Minister Camp bell it Juarez did not turn up ; but bis return to the haunts of civilization after bo short a jChase suggests the idea that the Minister may have iound the imperialist cause not quite so much in extremis as Iwd been reported. That such may be the case is evidenced by tbe apiit among tbe liberals. Without th" gain ot a single man or the capturo ot a s'.nrl ? post the j imperialist cause is advanc'd by this interne cine teud more than by any other event since ? ho arrivsl of Maximilian. Min ster Camp bell Raw this. lie was in tirn" to see one practical result of the f ltd?1 bloody fl/h' be tween the Juarists and Ortegaists, in which the liberal Generals Escobedo and Canities destroyed sevoral hundred good fighting men. Moreover, ho found Maximilian at the head of o powerful and well organized army, cupa'ole of showing considerable fight, even were his enemies combined, but able to anni hilate, with infinite ease, either of th" factions now apparently more embittered against each other than against the stranger fr i:n Mir.inur. What then could Minister Campbell do but re turn to await events and instructions T Vie mu-it let him t 11 his own story in tiiD for'hom ing report of this curious mis don. Th-n. if we sccept all the facts relative to M .Xiuidiau's position, bis popularity, his army und his hop s, must we not also accept t'l ? hypothesis that there is a possibility of his ul'imate suc cess? fVnd in thai case, if the Uni: ? 1 Is'. .tes do n il interfere forcibly, wher-'k Ih'O wizard to come from who cm change all th ? < i rnpe riailst j.roj cts and arpirations Into the r -ulizi tion of republican hopes and aim.- * Ex nana and Railboad Cojfl?A:nx* *?> rn 'Cirr Lir.sss Law. -The Corporation A; or n'-y, in his annual report,'u? that a uuinVr otsuits 'ire now pending against the cily expttm and r'.ilroad coinp Mies, to compel them to pay the license feb for ruaoing their wagons and passenger cars on the afreet*. It appears that the Second and Third Avenue Railroad compa nies hare successfully resisted the payment, on the plea, sustained by the Court of App -al*. that they wore incorporated prior to th ? passage of tbo ordinance, and hence are not liable to the fees or penalties imposed thereby; but the pending suits are against sud^eorporntions as have come into existence subsequent to tbn enactment of the law. The fact that these mon ster railroad corporations and monopolies retaso payment of a license fee, whirh every poor haekman and trackman in the city is compelled to sqaeese oat of his hard earnings, shows bow necessary it is that the greed and < svsrioe of saoh concerns should be held in check by strict legieUtfbn. The streets of tbe city are mora Ismberad op and destroyed by tbe horse cars and heavy express wagons than 9y all alher classes of vehicles pat together The people are taxed heavily for tbe beneOt of theae companies, and common decency sboald induce the latter to comply cheerfully with the | License law. The poor backmen and track men are compelled to procure licenses, or they are summarily dealt with and subjected to tbe penalties oi the law. To them the fee Is a heavy burden, when many of tbem can scarcely earn enough to procure sufficient food and clolhiog for their families. The express com paniM, rolling In wetlkh, an* the railroad eon paniea, every one of them making enormomi lortunaa out of franchisee that properly belong to the people, are rich enough and powerful enough to appeal to the courts and to erade the payment of the fee which ie thus sum marily extorted from tho hard-working m?? 1 be true remedy for the grasping avarice of these corporations is to break down the express monopolies by legislation, and to repeal every railroad charter granted to individuals and take all the roads into the hands of tho city. If, however, the wciflth of the companies and the Qfi'oasities of the legislators render this impossible, und if there is anything in tho charters of these corporations that enable them successfully to resist tho payment of the license fee, then the Legislature should at ouce enact a law to remedy the evil and to nn!c? every express and railroad comply liable to such ordinances as may heretofore have been passed or may hereafter be onactod by tho oi^y THE OCEAN YACHT RACE. Owing to a break In tho Newfoundland telegraph Hne, wo havo been d prived of o jr usual cable dot; atchee slnco A ond^y. Wo shall probably bear noiuoihtug of the iitcbls us soon 03 the line is repaired. Tho Feeling in Ireland. Dtmuit, Deo. ia, lRflft The great Ocean Yacht race, of which we rec< ived the news by the Atlantic cable this morning, is exottlrig much intciest among tbo meinhrn of our Irish Yoi-til clubs, and they look with anxiety for the news or the first In. Whichever It may l>o will receive atarOi^j nowi, about Ireland on arrital at Cowos. i ntfllsb Opinion oI tho Content. j [Krein (tie courier, Dec 12.1 Some eutori>ii.jub- Vanktos have got up a really new aensallon. Th , Is o yacht nwVm ?.V ?"' !" , Tno stakes arc somotlting suhstun tial?f fiU.fibO, r 1(, whol ? to go to tbo vacbt it'll arrives first?but the money is nothing to the ho jor'of i victory. i to vtjaels aro Just two hundred tonajwen. and are certainly not the safest croft. In which t<?croea the Atlantic in December; but wo suppose the proba bility of rung drowned or disabled Is pari of tho ment. The race was to commence yesterday iu ono I' ?... and instru-tions have boon lcl?graobcd to all veto-H* Palling Ir. toe track of the yachts (to be distinguished nigh.and dev by distinctive marks) to report the pro gruju ol tho race at their respective ports of aestiuatioo. the namoe or the yachts aro tbo Hem lotto, tho Kleet wlug cm! tho Vesta, the owner of tho first named ves ted being Mr. J. 0. Pcnneti. Jr., sou of the well k . mm American Journalist of (hat nemo, aud tho present manager ol tho Nr.w Y.iik 11 us a in It is necfiioss to Hay that intense Interest, especially in Amortea. u ex cited in thin ha rbntitiud adventure. [Prom the Liverpool Mercury, Dec. 12. f A trio or magnificent American yachts sallod from New ? >rk j^fltorday, on a raoo to Cow#1*, Is I a of Wigut, Uiohr riMpfH tivo own pin having eacii staked thirty tbtoaaad dollar*, the winner to uxko the total amount THE WEATHER. itnin, Mliisb, Wind ntid Front. Within the pad fort-ii -lit wo havo had abuodant ert douce of the oft-recurrent caprice* of the weather. We have shivered through days worthy the clime of l,aphind or Silierla, perspired under the raw of a vernal run, waded through rivers of tnnd and ventured <>u u peril >ua journey acres< Alpine raii;ej of snow. But our next unt '.eaaant experience Inu been gatherod ou days like ye,let-day, v. lj *ii ur.ablr to don an overcoat because of the inildueea of the icmperature, unable to promenade la a light jacket in dread of n sudden change, we bare been compelled in pi.;k o path through tho raea.-iJor Inge j of a city bull hidden under tlio mud, and havo imly soo c oded in reaching a given point after being drenched to the bono. A commingling of rain and snow, ot beat aed cold, and a i-?u of dense slush wore the features of the weather yesterday. During the earlier portion of the day the flakes which fell iu serried ranks from the leadea bund nkies, in el ted ore they reached the earth, hi ? later hour however, tho thormomouw fell, and the ensw v.-liiton^d, at least, the untrodden ground. The awni.ien In irnnt or ?oo" bsnt under its w> Ight, the tops ol ven.cles were overlaid with its parity, It settled In the folds of one's garments, and burdened tho broedenla* rim < f fsshlonuhlo liais. Every now and then, a drift tailing from ? slanting r<of would light upon the boMI "f " piu-ser-hv and break into impalpable fragmenlw It threw up ,n tin rin.-wy barges and sfamhnat* on the river a v?|t, which coo ?aled the rust on Mie.r enchore and the stains on tlieir sails, and gav" to the craft aaHliw to and fr., a bwaiilike uppoaruueo. Tna Very uuasWe pile* n-.ainst whl h tho ferryboat* came into half hourly collision were draped in w nirv raiment, and shook M the air millions of snowy particles when shaken by von tai l wdh one i f (he floating tenements Unfortunately the sn.i v dis-olvod rpeedily under tho feet of the p? aestriuns and the horse-' hoofa Although It Ml I heavily, and at time lormod a blinding mist through wuirh human beings became more shadows, and inuntt m?ntal build - ni'tt masses of matter, (he peve rn-'nls of Hie city remained hidden undcra layer of mud. and sleighing and snowballing were alike out of the question The pleasures of promenading and skating -vers foregone, and the few who emulated the boldness of the.r mam trie,ids and ventured forth, were so wrapped in wa'rrrironf ,-arinonts a- to ho utterly oa rerognisable ior the t.mealfdng. Still the up tuwn storey ni any of ,v. Iiiuh -sere brilliantly light d, were well p*. tnmized by lair buyer*, and inwards evening myriads of errand boys, lad.-n win books, u>^s and baiwi.-s, were let loos., upon tt.e town to bear to nrlstocm'lo m-inslnn* tbntr r.ow yoar (ittrcne es. Tli" wen'her however, faded to improve, and. with tin- 'h ot s of the night, the mow fell as tmcklv as bo m.-, glvsn;* promise of a roDiinunncw of tho wretched condiliou of ti.o streets for tome da ye to In the evening the thermnmotnr fill and the wind ro?? I'ooU of Hlmih in tbo city dried up, and out la the country the snow b rume bard and crisp, but war no* deep enough to ,;lve promise of anyth rig in tlio shape of sleighing. A high wind was Mowing, and pedestrian* lotind it a matter of groat difficulty to keep ttioir feet. Maui, tu spite of the ntmo t pi ca itton, slipped on the Icy pavem.'rtt and found that their opportunitliM fee "seeing etara" were th .reby .-on d.ierably Increased. Tin- Snow Storm in Wmli'hritlpr County. There *m li??ry full i ; snow ye-terdsy tlir>> ichoal W et< bc.ber county. It citniDonoed nlx?ut tea In the morning and ccntlunod until live In llio utiariioon. la many placet tin. ground tva* covered U> Ui? depth of three Inch**. A!'>n?tlio lino of the Hud?nn Klvor end Harlem railroad* the snuw ? i not of sufficient depth to cam ? ativ aertoii s delay, and trains mad a their regular litn . Pv nightfall tlie fr. t hardened the ground, end it- the night advanced the neath r became colder. To day there will undoubtedly lie good eloigning. The Weather Klwwhrrr. A'.n ? vt. Dec. 27.?A severe utio* storm acrora pan ed by a strong north wont v md bae been (travailing h- a the er> iter part o" tlie day All the railcnad ttaina are more or let* b-dilnd time, and It in feared that the drift* in the country arc unuimatly heavy. It || the khv r - t storm experienced In years. n ?sTi*, Per 27?A terrible ntorm ha* prevailed durmN the aft -rn . ?n. ' an* ng much damage to ehlpp ng nn t the railroad-' running east from hero The gale wae from (lie eouthem', and lasted upwards of six hour* I" TIM I K. pec. j? -Heavy north west gale all Iheaf terrhnn and fo t gilt ' incivsati, Dec. 2?.?Weather very oold. Mercury fourteen decree* above zero. Cirw: t<D, Doc 27. ?Itiotrains aro impoled bribe snow storm tar day. Heavy snow storin all day. Thar up moer fifteen dezreoH above m rn Ottawa, Doc 27.?the river oppoblo this elty la rrnteod by foot pa-trng r. to-doy, but la not yet mu-'d ered sfe for sleighs. The wesiher is niwdsralo sod cloudy. I'm; APZLrnu. IW, 27.?There ta a severe gale frnra the northwest tiiia evening. There were s- versl si ight falls of snow during the day, but It Is now clear aad cold. Qrcsitr. Dee. 27 ?The thermometer to day is twenty, tbroe degrees above zero; barometer 2PM. Freab east erly w nd. Weather fair To worm, Dec. 27. ?About a foot of snow fell last a gbi. and we now hare excellent sleighing. The weather la very moderate. Washinutov. D. C , Dec. 27.?A severe gale Mowing all day from ine northwest, weather piercing oold end clear. HMght faH of snow early th<e morn ng WoK'-r-TBS, Mass., Dec 27 ?Wind northeast ing heavily. Tbermemstev 30 degrees TH! DAI WHO WAITED MCSIOENT LINCOLN AUASHRATED. During the closing days of tho rebellion n man i George W. Oayle, e lawyer, In Cababo, Dalian county, Ala, advertised la a Aelata paper that he would make one of a ntimber who weuld oootribute e eeruto tasust of money for tho ssessstnstioo of Preeldeat Liocotu After tho coafoderacy broke dowe end northern Ireepo commenced to garrtoon the towno of the boetbern Stales, lawyer Gayla ^po baalod up end was charged with the above offeaon Hie trial wet eel down far to-day at Montgomery, when be wll be afforded an opportunity of pr ormghte ley*1 intentions. new uwnm politics. Dovsa, H H., Deo. 2t, IMfi. The RepoMlooa fooventioo to nominate a candidal# for Coogrees la the fflrel district, met bete to day. Kvory delegate was present, sad ao little ezcltemoa* pervaded too meeting Cbartea K. Boll, of Klater, pre. elded Three balloting* were hetd, the latter r-eulUng as follows -Kit, 124, Wheeler, lit; Maretoo, 2, H4 lies, 2 fflls was nowiinaiod by one majority. The o wnlBAilon was eisde unanimous by the convention. Mr. BHe accepted the nout us'na in to able i