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esportes, Williams& Co., Propnietors. A Family Paper Devoted to Scence t nquiry, ndustry and Lteratu.e- 0r VOL. 111.1 WINNSBORO, S. C., WEDNE~bAY MORNING, DECEMBER 15, 1869. [NO. 26 TI lE FAIRFIELD HERALD IS PUBIIS1IED WKI;KiLY lIT DIESPORTES. WILLIAMS & (0 Terma*-Tat, HEnALID is pubIishod1 Week. ly in Ihe 'Town of Winnsboro, at 63.00 in, vareably in advance. iaj All trausiont adverlisononis to bc paid in advanoe. Obituary Notices and Tribules $1.00 pet square. PRESIDENT'S MESSAGE. WAsiNO-rIN, December U.-The flowing is the President's Message road to-day in Congress: To the &nate and 17ouse of Representatives. GEORGIA To DE ItECONSTRUCTED. Seven of the States which passed the ordinances of suc.sion have been fully restoted to their places in the Union. 'Tihe eighth-Georgia-held an election at which she ratified her Constitution, republican in Sirm elect. ed a Governor, members of CongresP, State Legislature, and the other ffi cers required. The Governor was in stalled ; the Legislature met and per. formed all the acts then required of them by the reconstruction acts of Congress. Subsequently, however, in violation of the Constitution which they Lad just ratified, as since decid ed by the Supreme Court of that State, they unseated the colored mem bers of the Legislature and admitted to their seats some members who were disqualified by the third clause of the fourteenth amendment; an article, which they themselves had contribut ed to ratify. Under these circum stances, I would submit to you wheth er it would not be wise without delay to enact a law authorizing the Gover nor of Georgia to conve'ne the mmni be origically elected to the Legis lgture, requring each to take oath prescribed by the reconstruction acts, and none to be admitted who are it:eli. gible under the third clause of the fourteenth amendment. TiEa FREEDMEN. The freedmen under the protection which they have received, are making rapid progress in learning, and no ooaplaints arc heard of lack of indus try on their part when they receive fair remuneration for their labor. TILE GoVERMENT INcOME. The means provided for paying the interest on the public debt, with all other expenses of Government, are more than ample. TIlE LOSS OF OURI COMMERCE. The loss of our commerce is the only result of the late rebellion which has not received sufficient attention from you. To this subject I call your earnest atentioL. I will not now sug gest plans by which this object may be effected, but will, if necessary, make it the subj et of a special mer sage during the aession. TIE ELECTIONs TINDEI 'IE RECON TION ACT IN UHE SOUTH. Congress, by joint resolution, au thorized the Executive to order elec tions in the States of Virginia, Mis sissippi, and Texas, to submit to then the Constitutions which each had previously framed, and to submit the Constitutions either entire or in sepe rate paits to be voted upon at the dis cretion of the Executive. Under this authority eleetions were ealled. In Virginia the election took place on the 6th of July. The Governor and Lieutenant-Gjvernor were elected and have been installed. The Legislature met and did all required by this reso lution and by all the reconstruction acts of Congresa, and abstained from all doubtful authority. I reconimend: tbat her senators and represeuntatives e prmptl admiitted to their seatls dthat the State be fully etoe to its place in the family of States. Elect ions wore' called in Mississippi and Texas, to. commence November 30th-two days in Mississippi and four in Texas. The elections have taken place, but 'tbe result it not known. It Ia hoped thatlth o ats of the Legislatures of those States, when they meet, will be such as to receive your* approval, and thus close the work of recolisbugon, THlE IlENUMPTIoN o? 5PEofE~ tAYMIENT. Among the evils growing out of the rebellion, and not yet referred to, Is qI'hat of an irred emable eurrenoy. It is ab evil which I hope will receive your Engst Oairgest attention. It is a dutty, and one of .the highest duties of Government, to Securo to the citizen a medium of f~ed and iitvarylng value. This impllee a return to a speceo ba siaand o btitute for itoi hie de. vised t l be oopwonted nowg and reacee at the earliest -practical moen consistent with - a fair regard S to the intore'st of the debtor ls. 'Iramediats rd64 (tIon if pvaottokble wiotid lM6 "1 Nika 1. It6 woulJ .ompiel the debtor class to pay beyond their oontracta~thes premium en gold at thedatd'of thelir -purelamse, and would bring bablhuptey 'and tatr tt thousandq. Ilfluetuations, hoidoer, ia the paper valune of the -measurp of all values-gold, is detriaudatal ' to the interests of- trade. It iakes 4hae a of business at v'woluutary e&ui'hlr, for in a0.1 oads Whieoe'f re, pqt is to be made, botit the partlia speog. late n's to what will be the value of the curroncy paid and received. I earnestly recommend to you, then, such legislation as will insure a gradu al return to specie payments, and put an immediate stop to the fluctuations in the value of currency. The meth. ods to secure the former of these re sults are as numerous as speculators on political economy. To secure the latter, I see but one way ; and that is to authorize the Treasury to redeem its own paper at a fixed value when. ever presented, and withhold from circulation all currency so redeemed until sold again for gold. The vast resources of the nation, both develop ed and undeveloped, ought to make our credit the best on earth. With less burden of taxation than the citi zen has endured for the six years past, the entire public debt could be paid in ten years, but it is not desirable that the people should be taxed to pay it in that time. Year by year the ability to pay increases in rapid ratio, but the burden of interest ought to be reduced as rapidly as can be without a violation of contract. The public debt is represented in great part by bonds having from one to for ty-five years to run, bearing interest at the rate of five and six per cent. respectively. It is optional with the 'Government to pay these bonds at any period of the least time mentioned upon their face. The time has alrea. dy expired when a great part may be taken in, and rapidly approaching when it may well believed that all which are now due may be replaced by bonds bearing a rate of interest not exceeding four and a half per cent., as as rapidly as the remainder become due they may be replaced in the same way. To accomplish this it may be necessary to authorize the in. terest to be paid at either of the three or four money-centres of Europe, or by any of the asaistant treasurers of the United States, at the option of the holder of the bond. I suggest this subject for the consideration of Con gress, and also simultaneously with this the propriety of redeeming our currency, as before suggested, at its market value at the time the law goes into effect, inereasing the rate at which currney will be bought and sold from iy to dJay of' week to weoit, et thie same rate of interest as the Govern ment pays upon its bonds. The subject of tariff and internal taxation will necessarily receive your attention. The revenues of the coun try are gicater than the requirements, and may, with safety, be reduced ; but as the funding of the debt in a four or four and a half per cent. loan would reduce the annual current ex penses largely, thus, after funding justifying a greater reduction of taxa tion than would now be expedient, I suggest a postponement of this ques tion until the next meeting of Con gress. TARIFF. It may be advisable to mod ify taxa tion and tariff in instances where un just or burdensame' dIscriminations are made by the present laws; but of a general revision of the laws regulat ing this subject I recommend the post. ponement for the present. 11 INCOME TAx. I also suggest a removal of the tax on incomes, hut at a reduaced rate, and this tax to expire in three years. CUsTOMs. With the funding of the national debt, as here suggested, I feel safe In saying that the taxes and revenue from imports -may be reduced safely from sixty to eighty millions per an num at once, and may be still further reduced from year to year as the re sources of the country are developed. FISUAL. 5TATEMENT OF THE GOVERN MENT. Theoreport of the Secretary of the Treasury shows the receipts of the Government for the fiscal year ending June 80th, $370,948,747, and expo 49,0.'h siae o t e en Buidg year ar'e 'more favorable to the Government, and will nto doubt show a muoh larger decrease of the public debts. The receipts in the Treasury beyond the expenditures bave exceed ed the amount neoeeiay to be placed to the eredif, of the sinking fund, as proviea by law. To look up the' surplus-in th 'reasury and withhold it from eirculatiom would lead to sueh a oont.iaotIot of Odrtemley as to lp ple tyde and periously affect. h prosperity of' the country. -Under these oueastanoes the 8eoretory of the Treasury had myself -hartily oon crirred in the pro risty of bein g all the iurpliuu currency In the Treasury in thy purchase of Government bond., thus red uclng the interest-bbatIn in debtedness of thtry , o heldby, Tsenaryamoent t~o $75,.. 0,0,O0, liooluding those of the sink. log fund. I recommend that the whole beg ed s~dbe Mtie the 'with ~ah"pe str mug o brty and ' lf-government. u1 h wbiue a.s sy~mpathuiting it, is agto 19uir hgg~ox tha we should abstain from enf'orcing our views upon unwilling nat ione, and from taking an interested part in quarrels betwen different nations, or hetgeen Governments and their subject. Our course should always be in conforhaity with strict justice and law-international ind local. Such hap beenf the policy of this Administration in dealing with these questions for more than a year. A valuablo province of Spain, and near neighbor of onr-, in whom all our people cannot but feel a deep interest, has been struggling for independence and freedom. The people and Government of the United States entertain the same warns feelings and sympathies for the people of Cuba in their pending struggle that they manifested throughout the previous struggles between Spain and her former colonies in behalf of the latter. The contest has at no time -assumed condi. Lion which amount to war in the senco of international law, or which would the exisietce osf a de facto political organization of the insurgents sufficient to justifv a recognize of belligerency. The principle is maintained, however, that this nation is its own judge of when to accordl the right of belligerency either to a people struggling to free themselves from a Goverment they believe to be oppressive or to independent, nation at war with each other. The United States has no disposition to interfere with the existing relations of Spain to her colonial possession on this continent. They believe that its due time Spain and other European Powers will find their inttest in terminatin.g those relation and establisl.ing their present d.pendent Pow rs These dependencies are no longer regarded as subjects of transfere from one European Power to another. When the present relations of colonies ceases they are to become indepeudent4 Powers, exercising the right ot choice and of self-control in the determination of their future condition and relation with other Powers. The United States, in order to put a atop to the bloodshed in Cuba, and in the interest of t:e neighboring people, proposed its good offices to bring the existing contest to a termination. The offer, not being accept 1y Spain on the basis which we believe could be received by Cuba, was withdrant n. It is hoped that the good offices of the United States may prove advantageous for the settlement of this uihappy strife. In the mean while, a number of illegal expedi. tions against Cuba have been broken up. It has been the endeavor of the Admin istration to execute the neutrality law, no matter how unpleasant the task, made so by the suffering we endured from the lack of like good faith towards us by other nations. CKNTRIAL AMERICA---THE DAnIICN CANAL. The inter-oceanic canal, to connect .ie Atlantic and Pacific oceans through the Isthmus of Darien, is one in which commerce is greatly interested. In struction have been. given the Minister to the United States of Colombia to endeavor to obtain aitthority fur a survey to determine the practicability of the undertaking. In order to comply with the agreement with the United States of Colombia as to a mixed com mission at Lima, it became necessary to spud a commissioner and secretary to Lima. The good offices of the United States to bring about peace between Spain and the South American republics hiaving been accepted by Spain, Peru, and Chilh, a congress has been invited to held in Washington during the present winter. A grant has beeni given to Europeans of an exerusive right of transit over the territory of Nicaragua, to which Costa Rica has given its assent, ; which, it is alleged, conflicts with the vested right of citizens of the United $tates. The Department of State now has the subject under consideration. THEl SPANISh GUNBOATS. The Minister to Petu having made representations that there *sa a state of war between Per and Spain, and chat Spain was construeting in and ntear Ne ork thirty gueuboats, which might be osed by Spain to relieve the 1 naval force9 at Cuba to operate against1 Peru, order were given to prevent their departni. No fourthier steps hiaving been taken by the vepresenteatives of the ZPernviani Gevernment to prevent the departure of these vessel., am|| I feeling aut horised to defain the property of a n.ation *lth #hleh'wo, are at peace on a meta Ereesative order, the tuter has been referred to t)he coitrts. . 00UfR AME*304. The conduct of the wav between the1 allies and the fRepublio of Paaal has ma'de intercourse writh that doubttry difficult, and it has been deemed advisa. bie to withdraw our' repre.sentative fsm there. * . , THEA4AnAMIA 0,A5 - Towntia dise qlose, of .%I9. App a4 mit6ton aoeenvclatin ig' aLoudoanfo. the'est~dtlesa %f i standfeg elambfue* Gve#6 k sie Uited4State, A*lloek failda 06 e Gr y etB1M hit e~ .sa # the nerssaof he ate laus. in the diminution of exrte and he ports and other obstructions to domes. tie indsetty and produotibn, in its of feet upon the foreign cbrntuero of the country, in the deoreshe aid trans. for to Great B itain of our covoe n ofal marine, in the prolongatioe of tbe war, and in the inoreused coat of both in treasure and in lives of its suppres uion; could not be adjusted 'iad satir fled as ordinary cominortdal olaims which continually arise btewen com niercial nations ; and yet'the conveu tion treated them as serif ordinary claires, from which they differ iore widely in the gravity of their oharaie ter than in the magnitude of their amount.' Great even as I that differ once, not a word was found in 'the treaty, and not an inforeiq e could be drawn from it to reiovO , e sense of the unfriendliness of th4 course of Great Britain in our strt te for 'e. istenco which had so dees' and uni versally impressed itself upon the I people of this country. holieving I that a convention thus thiconceived in its provisions would dot hate pro- I duced the hearty, cordiaj settlement of the pending questionseliuh aldne is consistent with the rebltions which [ desire to have firmly esablisbed be tween the United State' and Oret Britain, I regarded the htion of the Senate in the rejection of the treaty to have been wisely tnkeh in the in terest of peace and as i% necessary step in the direction of a perfect and oordial friendship between the two sontries. A sensativo people, conscious of e their power, are more wholly at enae under a great wrong wholly unatoned, than under the restraint of a settle. anont which s itisfes neither their ideas of justice nor their grave sense of the greivance they have sustained. The t rejection of the treaty was followed i by a state of public fooling on both f sides which I thought not favorabib j to an immediate attempt at renewe? 3 negotiations. I accordingly so in struoted the Minister of. the United States to Great Britale, and found , that my views in this, regard were shared by ner Majesty'ts Ministers. j [ hope that the time play t on arrive i when the two Govgrnm It an ap- t proaoh thA a9lutIon, <6f t to ean toUs question with . appreciation of what is due to the rights,' d ignity, and honor of each, and with. the determi. cation not only to remove the causes of complaint in the past, but to lay c the foundation of a broad of principle f public law which will prevent future a 3ifferones, and tend to firm and con- a tinued friendship. This is now the ( )nly grave question which the United ni Btates has with any foreign nation. C NATURALIZED CITIZENS. The unsettled political condition of ther countries lees fortunate than our own sometimes inducos their citi. c tens to come to the United . States fur rhe sole urpose of bosoming natural 'O ised. ,-aving secured thin they Ye- b turn to their native country and re tide thefe without disoloLing their'a :hange of allegiance. They accept ,, fflicial pohitions of trust or honor which can only be hold by cthizeus of heir native lands, They journey un- - ior passports describing them as such g nitisens; and it is ot.ly when civil dis ,ord (after perhaps years of quiet) . breatens their persons or their pro- h erty, or when their native State irafts them into nmilitary service, that heir cbange of allegiance is known. They reside peormanently away from he United States, contribute nothing F .0 its revenues, arrd avoid the dnties >f eftizenship, and only make thom, elves known by a claim of protection. , have directed the diploumatic and , onsular ofioers to scrutinise all such haimis to protection. A citisen of t he United States, whether native or doptedi, whp discharges his duty toa ti.e, ountry, ise entitled to its eosplte roteotion. W hile I have a~vpo in ,o directio of .affaina, I phail -not o xomsent to imperil this sscreo righta by conferring iton fictitious or fraud ilen6 elaiant. Out I6bnufilttdris are IiiorAslig . 'I WIth wonderfol rapidity under thp. en. a oirageuaent of. which they, now V.. .5' 1Y iti: ths irnprovemunjp!/ to n'lohiny alteady effooted ajd t tila nbmessing, ostidng aahisev talg el0 he place of skilled lahor to a. targe' ztenet our imports of wany. articlee . ii nuat. fall off.largely, - Fortueately,'e oo, iinaufaoturesare.not ohnfledito ael fqw )coaiiies, aa~formerlyaad it is.' si o behasped wiIb..ome assere and h laic with us the :noans wh eL ot4ie o I~Ed hand 46b.ees~fbridgi se g the Adaalnistration to cultivate anch relations with all these nations as to iotitle us to their cofidence, and make it their interest as well as ours 6o establish bodtor commercial rei ;ions. THE CINESE QUES'TION. Through the agency of a more en. light, d policy than that beaetolor< pursued towards China, largely due to the sagacity and efforts of our own distinguished citizons, the world ib abo.ut to commence largely inorensed relations with that populous and hith. srto exclusive nation. As the United states have been the initiators in this new policy, so they should be ihe ,oist earnest in Fhowing their good faith Iu raking it ia success Tn this conneot ion 1 advise sa' legtXlntiou as to orever preclude the enblavement of Jhinese of our soil under the name of oolies, and also to prevent Ameuican rossels from engaging in the transpor. atlion of coolies to any country tolo ating the system. I also recoiumenud that the minsion o China be raised to one of the first. laes. #11Ai 47 tN oPiea. HioLnERs. It may be well to mention here the mbarrassment possible to arise from eaving on the statute-books the "o 'alled tenure-of-ofLfo acts, and to oar testly recommend their total repeal. t could not have bean the intention f the framers of the Constitution, in roviding that appointments made by he President should receive the con ont of the Bedate, that the latter hould have power to retain in office ersons placed there by Fedoral ap oitments against the will of the 'resident. The law is inconsistent rith a faithful and efficient adminis ration of the Government. What 4ith Gan the Executive put in oflicials arced upon him, and those, too, whom o has suspended for reason? hlew rill such officials be likely to serve n Adnministration which they know oesnot trust them? For the sooond requisite to our rowth and prosperi- y, time and a rm but humane adninitration of ex sting laws, laws amended from time o tie as they may he inefLetive, r prove harsh or unneoessary, are robably all that are required. INDIAN A bAIa . '1'he third cannot be obtained by spe. ial legisit icti. It must he regarded as xed by the Constitution itself and cordi lly acquiesced in by force of puihlic pinion. From the foundation of the rovernment to tio present, the manzgo. tent of the original inhabitants of this antinent(the Iudians)hae been a subject f embarrassment and expe:se, and has eenl attended with Continnon robberies, inrders, and wars. From my own ex. erience on the frontiers and in Indian Juitries, I do not I ld eit her legilmion r the conduct of the whites, who come inst in contact with the Indlu s, lameless for these hostilities. The past, however, cannot be nndone, ad the question must be met as we cw find it. I have attempted a new alioy towards these wards of tle nation, hey cannot be regarded in any othor ght than as ward,) with fair result so r as tried, and which, I hope, will be tended ultima tely with great snecess. he Society of b'riends is' well kniowi as tvmng snceede.l. in liIng mn peace it~h the Indiamns in the early settlemnent Pennsylvania, while their whit~e siglhbors of othier sects, in other see 12n5, were conustanitly. embruiled. hoy are also kenown for their opp~oardonl) all sinfe, violencef, and war. and are nerailly noted for nhieir strict mntegrity idi fair dealinigs. These consmdt~ratiolis duiced me to-give thes managemnent of1 few reservations of Indians to, andi to row the burden of the selection of rents upon, the Society itself. The result has proven most satisfac ry. It wi be found more fulle set rth in the rep~ort of the Commnnissioner Indiant Alliner. F'or superinlter dets ut4 tndian a5.-uits not on reservations, Iibers of thias army were selected. he reason's ,for thnais re nilmecons. Tbeta Indiani agenis are siint, there or ~ar there troopsb must also be sent. lie agent and th e oynmander of troops e itgdwepndent of each ct her, And are bjgtogrders from differeint depart enit s..of the Government. The armny lpet holds a positu'on f, r life'~ be agent .at the will viT the Presid'un. Thes rmer's peronaly interesied ini kving Iharmony with then Inidiiens tutd tpblsh~ig apernainent peace. to tlie. d t~as omyptrtion of his ine nihay bn* ient nir ilised soiety. TJ~hi lague.r ho iuch porsonall interest. Anothy fmue'is anieonrmi oane ; ai d still sothier, the hold whici the Govern-nen~it is upona, f olicmr'to'eecnrejp fuith-. sMit'Iaen Iity. Teoiing~ w' 1018& g'ad u i~ife'ineadt r human fife and the right dior m dangerots to society. I see no substa. title for such] a system except in placing all the Indians on large resortations as raapidly als it can be done, and giving them absolhte protection there. AR .oon as they are fitted for it they should be induced to take their lands in severalty and to set up territorial gov ernment for their own protection. For full details on this subject I call your special attention to the reports of the Secretary of the Interior and the Con. nissioner of nii i in Affairs. THE PATENT OPYIca---INTJ:nl0n DNe l'AnTfuENT, ETo. During the year unJd'ng September 30, 1869, the Patient Office issued 13,762 patunts, and its receipt were $686,329, being $213,926 more than the expen. ditures. I respectfully call your attention to the reconnenctation or the Secretary of the Interior for uniting the duties of supervisiung the education of freedmen with the other duties devolving upon the Coiinissioner of )dincation. If it is clIe desire of Congress to make the census during the year 18'70 more complute and purfect, I wouhi suggest early action upon any plain that may be :agreed upon. As Congress at the last iesson appointed a cormittee to take mito conasaderation stich merasures as naight be deemed proper in reference to the cene, anl to report a plan, I desist frant tarayilg aiOre. I recotilnea. to your favoratrle con. =ideration the claims of the Agricultural liareaii for1,iberal appropriations. .In a country so diversified in climate and soil as ours, and withi a population so largely elepenadent upon agriculture, the benefits that can' be conferred by properly fosterring this Bureau are incalcuktble. I ulLeiro respectiully to cal) the atten. Lion, of Congress to the inadequate salaries of a number of the most imn portant officers of the Government. In this message I will not enumerate thei, but wil specify only the Jus tiers of the Supreme Court. No .-bange has been made in their salaries for fifteen years, Within th~at. tie the labors of the Court have lirgely increased, and the expences of of hving have at least doubled. During a the s:aan" ilnu (oneigress has twtce found it necessary tuoinicraue largely the cum- { ponention of its own mnembers, and the I (Itmy it owes to another department of t the Government deserves, and will t doubtless receive, due consideration. 1 UXNCLcs1O J. I There are many subets not alluded to in this message which might with a proprwety be introduced, but I abstain, believing that your patviitisen snd t statesnmansip will suggest the topics and the .legislation most conducive to " the interests of the whole people. On i my part I promlse a rigid adherence to the law and their strict enforvenant. 11. S. GRANT. VAuatNoTo, December 6, 1869. 0 - . .-- r Prom the Stato Oapital. e COLUAInTA, December 5.-A gnal 8 settlement between the Board of Di. roctors of the Blue Ridge Itail Road Company and Contractors Criswoll & i Co. was agreed upon last evening, I The Directors agreed to pay the Con. V tractors seventy-frve thosand dollars C and settle with Stb-contractor Steer., now engaged on the road. The Con. D tractors, who had prevIously threaten- 0 ed to institute su h for damages for a ann olling the con~trrcot, withdrew all il olaimis. It is supposed they had done U about fifteon or twenty tho.sand dol- ii Ina' worth of' work on the road. At-' P torney-G~oneral Chamberlain's opInion 0 was that the ceontractore had legally forfeited the contract, and could not l recover damages, A hearing was held by the Jlud lola ivy Commnittee of both H Uos in joInt i session, on 8atarday mornhig/upedi a d 11.11 provlding thatsi1 sale under or. ders or decrees in erinity shll be made by the 8heriff, of the se,'eral counties. A vigorous contest is now b going on between the Clerks and She ifs, each regarding the profits and foes of these sales as the proper ewo. lutments of their ofiloes. On Satur- 1 day mornting ex-Chanacollor Carroll made an argnment bforfae the- Comn. mittees in favor of the Sheriff's. The Committee will hold another session on Thursday next, when Attorney. h QOneral .Chatmberlain .jyl11 wake ana argament in favor of the olerk., aAeu whiob the Committee will seport to the two Houses.0 A ill will be lutredmeed in the Hgotse to-morrow, ettetuig the time to fund old bills pjf the Bank. of the State.; also,. h il to nd the new bills of the same Bahk. $sverallsurauee egente have ari. u ed here, to costest the passage of 'the ra Insurance 'BIll e SThs, Commilttee on the Judiciary p .wjf report in, favor of a rovision of tl the new Code, toquIria S0ps em. i Ourt to lipid fourtyn~eayeaa *e Ib 6t Chea.et# :oeaC 04abia oe t eevileaoe 0 Seter. dot .usswdea1aaa s, etuttee. wbith oIons to pi e It ia Confederate money. This mu tion exoited qonsiderable laughter, and, with the exception of the modeo of tay ment, was passed.-- Columbia Cor. Charleston Courier. Ootton Probably Will Rias. The Worhi publishes some very in toresting information as to the pros. peots of trade. gleaned from inter views with some of the more prowl nnt nmerchants of New York. At A. T. Stewart's, Westorn trade was re ported "very dull," and this stato of things was aecuutdel for in tonne quence of the holding back of th. crops by the farmers. Though the Southern trade was deemed bottor then that of the West, the same ten denoy to withhold the products of this section was observable. Cotton, they thought at Stewart's, was bownd to rise in price, after a whil'e. It wa, concedo that a return to specie pay monts would hurt the wholesale deal ere but might be to the advantage of retailers. At another largo dry goods housr, Ile same dullness was conplained of and substantially the same reason gir, en therefor, Centralization of oaph. tal had become so chronic that it was Idmost impossible for small firms tv Bxist in competition. The only hauco for active young men was to reach 'unior partnerships, but thceu were difficult to secure and the proper persons hard to obtain in consequened Af the rage for extravagance and ipeculatlon. Rents have been enor. nous but are tumbling. But the re luotion of even twouty-five per cent. n rents will not suffice to materially >etter the business situation. 1? pite of the immense amount of busi teas done, during the last two years, 'ew of the merchants have made arry noney. Every importer is keeping irepared for the pomsible resumption if specie payments by sanning in lebt as much as he can abroad and 'reeing himelfrat home. This uneasi tess destroyed the marglu for great n-ofits, W ith soarcely an exception ho largest dry goods houses are doing fair business; but nine-teuths of the maller houses are idle, Rosenfield & Bro., imrporters if' anoy foreign goods, took a very bil. IOUs view of aEffira. The corisunp ion of goods was calculated at fully birty-five per cent, lose than it was set year. f'lie Westerin farmers are folding back, and so are the planters f the South. Both are dissatisfied ritb ruling prices for their products, gad, in a majority of ca-es, were able a wait for a rise. So the farmers rill not purchase, and the merchants we afraid to increase their stooks, Leplying to a direct inquiry as to the outhern trade, Mr. Roseafield said " outhern trade is good ; and we ook for still better trade in the course f a month-that is as soon as they ealizo. You see the -outhern plant reef cotton are now rnasters of the ituation. According to all the In rmation we got from )urope, there a fothing like so mouch cotton raised a Egypt amd India as was anticipit d. So the planters are holding on ith the idea of gcttiog bestor pri Is,," On the point of spoofe reumption, Ir. R. was very enrphatie. ie do lamed that the very idea of it made dealers trewble, Iha, however, bongbt an early return to solid val es Impossiblev bfmut thoughlt a begin lag, ahould4 be made by allowing a o'rtion of customs dues to be paid in attney. Sainte Ueuve, who was throughout fe an infidel, was supping one oven tg at a restau'rant, and close by him re great Firfar Lacorduire was seated, 'erkaps It was malice or perhap he Id not see the latter, but aIlnto leuve, who was. conversing on the ibjest of religion with a fi lend, ropped the toemark that lie could not slieve in God because It wen't be ad his 'undbetanding, Ite had aroly spokorg this wison Laoordlare >se to his full he ighit, and .pointing wM'4 beaven, explaimed : '3f. ains enter you say-youn do not belie,'y Ira od boeause youi cannot 'undetetasho a, lint .can yomu understatidh why me same fire will melit butt~tersld arden eggs ? And, nevrtheleeg yo * 'Eating yotit omelett4 l's Bafnte li sileat for a momem%,'b* thw en mee likewis.5 prossed the hand of the Nidt Iomisloan, apd they rpmsinet atm friends everaft raard. 4 iqtI4yyqare ago, Slas Daeano as goJotor of.00 oineusat ~e be, id.r #eadministr~tton qf4r. >1,11lam U. Crq~wfo waqr .a ratary of the Treasirg, iAnd, witho l alinsposatita etaotive .uuapeof. aid .60 mrthe yof m6P4 l1bpty etd, M tbst~Iin he(*l on9 *te o ai aa/ oMGM$ oply %44:4 *i40