REBEL NEWS-

jgENIUUb LEE'S REBEL ARMY.Its Composition, Strength and

Commanders.

Probable Movement of Lef'»Forces.

Tho Reported Plan of the Pall Campaign ofthe Bfbsl*.

THE THREATS Of THE REBELS,Ac*, kfii Mi

Our Hrbil Ocapaichc* front BAltin*r*«RtLinoKK, August 31, 1888.

TK" La v Hopt of the tiebeUum.VektiUl Salemmi of UuArmy at Gtneral Let.Of What Troty* it u OemptuedAntic;fiations of an Karljr Vp:nutg if the fall Cam.IWl.ll, o e.

! bar* tfee pleasure of presenting to A« Humid ItwArm aud tin mily complete statement of tlisr force* com-

I 'ruing General Lee's army that has aver txvtr publishedIt will be soen that U embraces every regiment in tltttarmy namely , one hundred sod forty-tlvo regiments 01Iniaatry, 0rto>1h squadrons of cavalry and forty -etor bat-*torlaa of artillery. I am act at liberty at prfleedt t»> stater'bow I cam* Into possession of tbli remarkable doc '.went, {Jthe original of whi.'b la al present hi the office of Ito Armn't Di -Uitm.r> . of six guad ,a each, 610 meo.

Oon. Wilcox'sbrigade.

Major (in*to>\r batter lea of a'li r>4th Alabama re*im< «....8th Alabama regirtumi9tb Alabama. regimeot. . ...iptb Alabama regiment .... >

37th North Carolina reirirnnntUlb Alabama regiment I Qen. Malione'illtb 'Georgia regiment f brigade.15Ui Virginia regiment /2d Mi8siralpii regiment10th MiMi8sip.il regiment13th Mfcwlssippl reglBMMit

Jtlth Mia.iisoijvi regiment3d Georg a regiment ....

4tb Georgia regiment ....2.M Georgia regiment ....

4t>tb Georgia regiment ....

0«a. Poseybrigade.

Gen. Perry'ebrigade.

Strength of the Divititm.flnrentry a anArtillery 61»

i Total.. .. a 1MWMajor Qenrral render's Dirition.trmr batteries of artillery, or six guns in o«cb, 512 men.7th North Carolina regiment 117th Virginia reglmout I General Thotnaa'

Itrigade.18th Virginla regiment.334 Jfertfc Carolii^^B

JGenera* Walker's

br'pxle.

Ina regiment1Mb Naign and; ia a fewdajrs.probably by the time Uim meets the eyes of thereaders of the Hbkald the operations Indicated in my1 utter of Auguat 4 will have ceaaosenced.

8*1.'TIMOR!, Sopi. t, 1808More Capture* of Tenth on th* KajfahannojU.Oeneral!.*¦'» Aortfiward Movement Commenced./Cm* fromCharlefon.Keeuont for tk* Delay in Taking He City.Union Pntonert Remove* from RuKmorul to Charlet-ton.How Innocent Peoplew Maryland an» Compelled toPayfor the Depredation of Criminalt~3forU of Mr.tieoar tOf^mfel Jvthci to be Done.ISteerdy Johnson'IVindication of General Wilt John Portea^dc.The fi oquent captures of Union veteels. by lb* robe',a to,

I bo Rappahannock rivsr, which bsvs recently tulamplace, u» is th* Mghsst degree diegvsoetul to lh«ad»miBletraltou, bscause If the proper precautionary measure* had been taken they would cot have happened. lmaddition to the capture of theMaMn Reliance and sa¬tellite, the (chooser* Coquette, Golden Rod &ad TwoBrothers were all captured in th* Rappahannock river bythe rebels on the 9Atb ult., and taken aa prises toWilmington, aa one aooount states, and certainly to somerebel port in North Carolina. The latter three Teaselswere all unarmed, and of course fell an unresisting preyto their captors, Unlaas a suitable naval fo/oe is sta¬tioned at the mouth of the Rappehaaaock river, It musthe expected that thess captures of Union vessels will oon-tioue'to be cf frequent occurrence.

1 have no direct intelligence In regard to the reportedcrossing of the Rappahannock at Port Royal by a portionof Geo. Ie«'a army; hut tbe whole tenor of my informa¬tion during tbe last three or fonr days is such ss to war¬rant me in my log that, If be hae not already done ae, bewill do so to the course of this week, although th* cross¬ing may not be at the apot indicated above. If the report,however, should prove correct, it is the premonitorysymptom of tbe movement Indicated in my letters ofAugust 21 and SI, and that movement may be regar.dedaa commenced. It should net be forgotten that Geo. LeeIs perfectly swsrs of lbs condition of Gen. Meeds s army,and of tbe atats of affairs between Washington and lb*line of the Rappahannock. Tbe recent raids of Mosby'smen near the Chain Bridge, tbe reoent skirmish nearFalrfas, the recent captures of srmy msils between Oocoquan and Dumfries, have a meaning beyond what appearson tbe surface. In svsry ons of these affairs a vsst dealof ralusbie Information was obtained, all of which wsscommunicated to General Lee. That officer knows ex¬actly bow many of the regiments of Gen Meade's »rmysrs now in New York , and bow many troops are be-tweon him and tbe capital. If, in oonaoquenoe of theluformatl"n thus obtslued, General I«e believes himselfto be st the huart of a fores three times as strong as thatopposed to him, and precipitates himself in enn-e pienreupon the weak point in lb* defences of Washington, theadmiuiatration will be directly responsible for tbe result1 have soma news from Richmond to rtsy in r >gsrd torbsrleston which fsrnUhe* an answer to the question

I *. Ubi is tbe fall of hsrieHtou delayed »" propounded in[ tbe 1Isksu> yes'srdsjr. It Is to tbe oflbct thatthe deVnce! of Charleston d< e* not riepeud upon Kort Sumter at all.i That tort, or rather th* -round upon wbtnh it stands, m.iy

l>e taken, but, when that la done, tbe nark of takingCharleston will only have begun. Besides this. It I'aisled thst the military for e* under ftsnersl Beniressnlare sii|>ertor In number to tiiose under nene'sl tiillmore.

I and quite siiftleisnt to repel any assault upon the workssround the city. It is also stated that over s thousandUritoa prisoners were sent trom Richmond to t Itsrlestnn«u the 2*th snd 30th of August, in order ihat the taot of'heir being oontinod m < barleston might deter Generallln n re f-m shelling that city. Among tbe mimbsrsent down to Charleston more than four honor*! wereofficers.Mv lettsr of August 26 oontsined s itatsment of the

extremely Injudicious couri>e which his beiesd tbework of taking c h irlestoo will only have begun.Tbs harbor will suil be inaccessible, and arrangementshas s b -en made to ralnf- rr« General ReiOregardwith as many troops as be may used to rspsi aland attsek. Tbe detenoe of As long aa tbe overlandroute ft per*1sted In. disaster will altsnd our arms. Butlet tbe plans af General Met lellan be carried out; let apeninsula campaign against Richmond be organised, andII will break up and disarrange Ibe plans of the rebelsaa regain peasesstun of the Pa timore snd Obi llaMroad, to re establishIbe blockade of tbs Pt>toai« rl»er to drive GsaeralMeade's arnt la Mm ehatlev of the Wmklmgum forte.

I and, If thsy 4o oot tUtoi the capital Itastf, M las it (It*to Washington Um aspect of a Mawimd cHy, with .hoattl* M>f, 15«,0«0str*ug, at itegsts* V mf+tat their diapoeal for dotag this were ait forth la mjr lefteraf August It.

loleUtgouoe baa keen received here to the eCsct thatGeneral l>>e . oainpaiga igiM Washington, now aooo tebe undertaken, will he made bjr the moot direct route bfwhich that city can be reached.namely, br crossing theKappahanuock below Krederickaburg, m lufw luation beNm«t( la tbe pooaltywhich the admi«tmio« will b»ve 1**0*7 for not orgaal*In* :> peninsular campaign sgatosl Rkhwend betters-tbiremt of July. If btflr liad been due If (Jen Meade Had'bw a allowed, an tw\*lBt»sd , to more stTRinftmond by w*r

' 01 the peninsula, a» mm. as I-ee's alftty bad roaotsd'tlx) Hue of tbe Rappah»t«Bock.the rrtrel capital would

. now-be in our peefl¦Hog; WashingtonI there would be Bnnt4pHHWHIIIf of oar Ml>( able filial^

; to reduce Chirlestoav lb is because rMmras not doaetiisl) our capital is now in dinger, while Uiebmond aarjiCEbrleaton are both ccMBpairtlvely safe. 9br, on accouct"at he reasons apt rertb- ib my letters eT July 29 and'h«'jm 18, ' hartosioa.caanot be taken, wflUe Kicbmoo^'rsntetror to the posseaaiofrw tbe rebels

If Mi* rabelm succoed* (Ins fall in ajpi!» destroyingtha>-OMtbnore and obrt- R u»r*ed, and in klbrkadlftg >».Lower Potomac, Washington wM b) cut oIT from all 00mnrwiicaWon with tbe rest or tbe world. o»««pt by thosliH ie lino of railroad tstiwaa tbU my an I'the cipital.II' (Ms cantmgeney lho«M" happen tbe railroad iscilitlesbetween these two citios w4R'b«macb greatemhan theywere In (he winter of 1861^2; Tbe Baltimore and ObioRailroad' ban now constructed) a double tr&clrt 1 believe,over tfao entire itistaoce, wttbssusb eumerous slings andin nonts tbat several trataa can be running bt>;b ways atthe urns ttme, while the rsod'iBto excel lent ->*ii»anaeeathat collisions or acoldeaiB-of any kind are irapoeaible.In order h> meet the increasing' business of tkvroad thecompaey bavo also mamrnatad a new wing 10tlxi depot building at Oaaidea station, at theccr or of Rutaw street wfcisb, when cmplnied.will be- nearly n large as tbe original Molding,while It will harmonise w'th'tbe- latter In arcbttectnralappeananoo. The President street depot. w'nare tbeliacis for New York arri» i--a»di depart, has atao been

a eitiyenlarged and improved during the precsM sum¬mer, soew wing having been built, two hundred and

r >vecty feet long. This will greatly facilitate tbwpessengcr tra.Ho- between New York^stx* Washington, aad willuieailT- promote tbe comfort aad convenioncc-af thet< a veikaj public. While I am o® ibis topic. 1 » lh;v running time betweenNew York and \Yiubingtoc«-a consummation iSvouilyw sbel by all wbo bavo occasion to make the Journey,u* whahae nut'

HEWS FROM YUCATAIT.Rsmom of the Revsiatlsa-A New Ratev

live Power,.«e.Wobave news from Yeoatan to Uw 25th of July last.Tbe revolution which broke out in the city of lutmal

ea tbettth of May baa- beea cesapletely successful, andIbS'late Governor, I. lu.goyen, escaped to the- aaigb-baiting State of Campeaoby.

rh» pronutvuidot occupied Ussida, the oapitaV ot the»4 took pesaaseion of tba citadel, wbleb aapiUi

lated after three daya' storming. All the garrlae* wereparked.Tbe Executive power has been conferred on *1 Junta

ttibetnaliva, compaaed ot flvo yarsoaa apiwlntedi by tbefollowing districts.Juan Jotm lleodi-z and Aitdree I).Maldonalo, Merld*,: Roberto Riraa, Valladolld RafaelVop Kamouat'>, fcr Betl/esteamer Mejiei> and brig Ja. Cantlnem, for Havana.

A decree has been published in favor or Maria RoMr-soo Ksq. , oC this city, grantee for the conetractloa ef srailway between Merida sad K1 (Yogreeo, eftteodiag tbetime al.oweletioa to tba 1Mb day otJanuary, »64. The decree begins:.'.Felipe Navarrete,Comman Jer in-Cbier ot the Divisioa in th* State of Yuca¬tan, to We fellow citiieas," AcThere ts no other news of moment.

NEWS FROM BRITISH HONDURAS.Oar Bel I me C*rr*ap«nd«m««.Hum*, British Honduras, Angost IS, 1843.

Deterioration ef Ihf. Mahtgany S'apt*.Cot'rm Orowing.The Gualas become ear rtapraciutlvo or tbe iaic o ¦mtaender oflite aiuadron, ina«t»ecti-ae he insists tLM> l>up«nt d d notknew the state of liiwwn ships, and Ledtoo id 'a whatcveref the Injuries .iMiiatail by his lire upon Korl Sum-t*.-*.points perlecily vevetiled, bowevor. to high |>er-HonaKeut Waabtngtcmby his ciufidentia* newspaper cor-rnupjiident, aud ilu* officer, whose jMiem-nts haveslnae-feeen made the sabject of a o lurt jf in yniry .

i)Ut> tbe high personage betrays him.seif tbn mask isdropped in one statessoal. He says thut afajr the firstreptike ihipont "not >*tly did not renew iheassanlt, aswas ex woted, out daring the week* K>!Kn«rii»g in which

b> rennined in omnxwdhtf tho squadron .lAfaiied to makeany iRiggesilous or sr.bstiit nay plans looiir^tn tbo acoom-pl siinseat of tho grealtwirk which wom ouinwted t ib ni."To whom are the seciet ''auggoaiions' aid '"pirns" oi' anaimirel in command automated.' What ordinary news|>a

p- rudotit dire uauko Ibis statement*1 No Kna'.ishfoAtmater ever star tad with a clearer soant of the gamet tat* lay befi>re bim.

I it iog the o ise of t ia Atlanta.an ord !wj> commercialslaeiaer, awkwardly an«-can furnish no parallel to the vaat uadTtat iron-cladti igulo* *nd line oi Tfcltle ships now bota® built by theKimertiraents or ...*»nte ami Kngl-.ad, and u|>onwifiah all tbo ingenuity and reaonrcae- of those twogreat countries ara» being Itvlgbeil. The Atlanta wnsoauKht in a coeuer, wbere hor r ao/ erlor sjieodcouM give her n.^aihraotage except far retreat. Herounamander was a, rash fool, who ha ardbd every thingami loat his vessal , rather th in endura>tbe mortificationot tnrulng t~i 11 In I'resoace of tbo disttogtiMied ladies onbeard the river atoawcr.ladles, by ,lta» way, who badoome down In no sapoctation of seeing paear saare of our

itora, but to see the Atlanta cottar* or destroy onoII wooden giobnat ahlch lay In Warsaar Souud How

abe Wpflhiwken and ber conaort happened to arrive setn>poriuneljr is m pnmt not yet explained In any navytexpatcbes thai !m» b -en published;Accustomed UJook ror, and, whea..fe«nd, highly to at-,

proclale, every araia of comfort ir. (be- tMnbela ofofflciai.'tbalT almost da^Qt paared out upon u* in these disastroustimes, I thank the very higWfiwsnaaga far his assurau*that the Navji Pe)iartn eut Is not Insaasible to tbe h >that Iron-platadifrlfktes are noedod* to meet and fight th*same class of vesaris on the high snax " And, agtln taa-derins to all who sre In authority tke assurance of naymost pecqlia* caneldoratlon . I he# the H. I*. who has-given rise ta tikis reminder t . believe me ever his nwAobedient andithnee bumble servant.

Oat Mwistlcello Corsetpoadance.Mo*ncsiu)v N. T , Sept. 6, lttUk

A Srtdimrt' Aid F*»r, 4c.Last Ihursday evening a lair- was held In this piaoafor

tho bensOt of the sick ant ie«uaded soldiers f>s» ibiscounty the main part or ttoe aflhir was the wsrk of thelittle awiis of tbs place, who, by their eflhrte, haverslseaover one bundredi Mbn. Tbe litUa bmvos whoare eMit!ed V) ihe credit of prosecuting tbe good work,under the direction of Mae. C. Bleecker, are .JMas .TennleRioeeker, Haltie and Hannah Oakley, 9au» and TlllisHortny, Lucy Mcklnsoa, Agnes Clark, Aduto Pond andWVanie Royce.

Mrs. Rleeckor is tha widow of the lato I.ieutan int W. WMueckor, who was hut in tbe lll-lnleii sloop of warAlbany, and is the daugbtor of (*aota» Osonr Rullus, ofthe navy, who eonman prime movers inthis patriotic aMrirWhen rhildroa thus uke up ths lalerest of our soldiers

liftimes like theee it evidences tbe d^ep feelings wb'chpervade tbo urbote community. Saob promptings of tbohearts of nor little onea shouM be nourished and enconraged. The soldiers who are to be the recipients (ifths good things this uioney will purchase will no dooMever be grateful for the thoughtful attentions of tho e hi-tie ones.

Aerial Navigation.TO TBI RDITOH or THE HKKALD.

Pmrn Amsot, N. J. , Sept. 1WIWill you have the goodneos to publish, for the Informs-

tl n of cclentlilc men, the fact that the twenty revolu¬tions made by my aerial ship fn her spiral clrclo of a halfmile dl tinnier were made in the time of fourteen and ahalf minutes. To mo tbe most astonishing thing wssthat the siaterlal of which she was constructed with¬stood the resistance of the sir at so (real a velocity. Itwss. however, prepared for It, by being brought to apoint at the bow ondsof the thre> cylindroma over oonicalpiece* of cork Ave m hen in diameter at tbeir banentrong cord secured these points to the apox of lightstrlia of wood sttending along ths sides of each cylin-drold, and meeting together at thit point.Yonr reportnr has snoketi within tnuuds aa to tbe rate

of her speed The Orst eleven revolutions were mail t tn«even minutes and a fsw second*. The last three rov. lations were mide in three and a half mii.utes. A gradualdiminution of velocity was a matter of course. The clr-clea did not-dtmtnish tn .liameler, for they appearedlarger to tho view aa she ate n led. anil tbey must havelacreaaed lo sire irom her slower movoment, owing tnadiminution of motive power, ss well aa the rarer airacting upon ber rudder. Hence tho calculation made byyour reporter on the whole number of revolutions, in thea bole per nd of time before the was loot to view in tbeupper strata of cloiids. falls fsr short of ber greatestvelocity It must have been over two hundred miles perhoar is the early portion of her spiral movement Veryreepectfully, yours, PnUilloN ANDREWS.A I.*nv Ri*r.;tw rao* Ttwas Mrs. De tamsrand ar¬

rived at St. I/ei is on tho «ih instant from Onnlc, To*as.having been driven away bv the cruelly of the rebel*.She savs ber pereol* moved from Ill no s to leva* severalyears ago, where 'h»V both died Her hu«band, loel F.lie l.amerand. waa born ta H. I/mis wsol to lbs Mexi-oan war, and when the army wss on Its return he stoppedla Tsxaa, wbers the twd were married. Tbey were livingIn Cook county when lbs r bcUioa broke out. Many persons were arrested, tried andetocuted fbr treason . Herhusband was condemned to the penitentiary for lifeWhile be was In Jail she managed i furnish bim with implenents with which to make his eaeaps He told ber tbcome North, while be made his way Into MexHso shebas never heard from bim sloce For ths oftonoo of con¬niving at the eecape of ber huobaad Ithe waa threafeaodby the secetb till rbo thought heal to leave tbe caitntrv,which she did la company with a Mr York, driving histwo borss wagon for bim he having soM her last horse toobtain moans of suhalsiencs. Mm baa oae small child.

firs at No8r*|or, Istija.MrBsaooe, Iowa, Rapt. T, 1M3.

A destructive Are nocorred bore last night, which conoosied property lo the amount of 1*0,000, half of whichonly is Insured. Tbe fellowtag Arms are the principallosers Hits MeDonald, Case, Bailey, Van Valksabnrg,Haigbt jdlyaa, Hammerslough. Gutataa k f/mnan, Buck

k nicknoli and SumtaerReld A On. flame law offices woredestroyed

Aitoui The ateamer fhaeneWor, at fit. I/>ulafrom Memphis, baa sa board a thirty alt loooder thatwas ca|>tured ia IMd la Mei loo, by tbe failed Statesforce*, sad waa agata recapiared from tbe rebela atVMfbarg , on July 4, IMS. The gua was made ia France ,NoflisH X. ITtKt. It is a»w alaety lre years otd

FINANCIAL AND COMMERCIAL.

Tuaaaar, Sept. S.. P. M.Money jrftrfcftd ntucU aaaiar to day. Urgt

sum* have been eonnug into the street far tempo¬rary employment within the past day or two, mitliia afternoon the supply at 7 per cent waafully equally to, if not slightly in eicesa of, the te¬rnand. On government*, New York Central wadtrack choice securities money was offered at 6 petcent. Kren the banks, which at the clone of lastweek were unwilling to lend their money at aapprioe, aow admit that tM rate bid* fair to fall ta5 a 6 within a few days. It it aettled that the newlegal tender notes are to bear 6 per cent iutere^payable semi-annually, an4 to run two yeara in-att-ad of one. Mr. Chase propdsad to pay tftaInterest once a year. By payiftg.lt semi annuallyhe render* the aotea more likely to circulate ascurrency; for tfcey will be worth nothing morethan their face at two perioda in eneh year. Welearn that the (tart payment on aeeeont.6 patcent, $1,750,000 waa made to-day. -Gold fell to 132 this morning, and etckange ta

145. At fire P. If . to (fay the price of goM waa 138The bnll movement in gold appears tv have ex¬hausted itself, and we any look for another down¬ward turn on the receipt of good news. The largeEuropean orders for Aamrican securities;were forwarded from the Beetia by telegraph \naturally have their effeel apou the excmarket.The stock market waa active and prices

better (his morning. There was no violentin stock*; but tke whole list moved steadily spward, wirt a firm appearance. Erie roae front105X laaf evening to 106 at the drat board. TUprice in London, which Is not predicated on earhighest (flotations here, ia cotnudbrably above106, and, unless they had V psalo theeaas severe as owrs, the proapect ia goalthat the shipments of Erie to Bmrope whiofchave been made within the peat" week wiHpay a fair profit. At the first board' Qtoickailverrose y%. New fork Central x/%, Hwiden V/%, Har¬lem 6. Reading-^, Southern old 1}£ Illinois CamIral 1 y%, Pittob'urg T/9 Galena %, Hock Ialaaf1%. Prairie dir CMao 2, Port Vtkyne 1%,Chicago and Alttm 4. The cheap- Weatentstacks suffered iiss in proportion tbaathe morahigh priced HCflOrttles Airing the resent panto,and now exhibit considerable recupera*fr& vigor.Ttiijre ig quite sa active- fnqniry for Rttftburg,SonOhern old, llioago and Alton, Terra Hnate,clpe.r Ac. Misso wts were- better to-dsyv with mfair business. \fle regret to learn tlkt thatnegotiations whl'*'were-e» foot some fitaieif6r tbe rescue of'' the State credit Maipresent positioa of disgrace have*through. The det m? rapt&y accumulating; aathe border warfare to which: the State is a* preydestroying its resoiwres. Governments were liraAt the close of the .ttatbaant the market wa.strong-. At the one P.''M.' cart of the pubRc;ht' olttrcU of the inoroaaed supply of mouey&$K. All the broke.vrappemvd to havethkmaeives with meaa*', and all were eager*to bay.Central roae 1, Krie vf.okl Southern 3Mbg

Hbrlem 5, and so on throughout the list. JKt iVxovood board th >market" continued fi.UR- Hb

ciHv? Mail rose to 222; Nfew TTork Central roae flm134, falling back to 133; Harlem rose to 1S^H(Mlien> old to 92ym Reading to 117, Pra4rie «s

' tii«n to 76, and AltMkaadi'Obvre Haute to-3XT Iteuftlhwin* were the '(losing: n(notations:.U*O'8s'»t,r«ir.l0S1|{ a Barton pref.131 a«.Ufid s^l^ou.lOa^a ftwdinj 116Y-+ IW:TB K*,.'74,cou. W5* a. 05' Mich Central. .12031 %M7 3-10 a, Apfcoiofl;; a IMV Mien Southern 91 *-a .»

r 8-IOn .K*Augl05>i ¦ I0B\ Ntofc guar.... 126 a 1»UEa's.Jtye.ldldlOl a lOl/'i rwima 180 > IM(VOtiklyc.lcur 9» (-«' a M(j. ril ( ootral. .. 1H '< p JMftgAmsrtcaDxnld.13-2^' a. i®5» «W * Pitta.. Hif a WTonDcmee 6's. 64V a. 84 >4 ilalena k Cbl 10»X a leg*Virginia 6's... 56 at 3S Slave * Tol 1 IT a llfjcUtanonrl 6 s 71 * 71 *4 «hl * Rk Int. .109^$ 1«a«1'aclOc Mall...»i2>.' » 8» Prairie du Hi. K- a TtjZN.Y < 'antral. ..133 al«3^ *Y»:entfl|osads»»poraries, we fMy.ans devoted to a diaoassia^tthe probable oftwta ef the new iytwi By»rttold banks. lit is t&e universal opmiaa. that ttatwo system* oannoft eaexist, at least for- th* par-poses of a aarreney. It Is quite as -flfnaraBy be-lieved that tin new svatem will ha of iBBmeMaadvantage to the commercial Intonate ef thacountry. Tbwarihi "its speedy estaWiahanent aadthe assurance of its stability everything is beingdone, evMythiaff will be done, wuich caa legallybe done *o forw ard these desirable oruia. NotMaffcould tsore conduce to this thaa the akngatioa offthe oki baahs, which will he remembered aafavorite*, hat as favorites which hare ofteaturned: upaa and disappointed their aaeetstcaJjasfc friends. It is fortanate that this, whiehseoam sa desirable, is alealawftsL Indeed, afterbribgiag adequate legal skill to bear npon ft*qse«tti, it seems to us iassitaMe ia law that th*old hanking system must soon be one of theaadead institutions of oer caaatry which, afteadoing their part well, and enhancing its prosperi¬ty, sleep in honor, but still sleep forever. Thee*is ground for believing that this waa the reeaftcontemplated by tha government and its chiefJinancial minister ia devising even the law wMelkgsve birth to our now currency and made ft legaltender fer most of the obligstions of our ooaasea-cial world. It b a matter of history.a part efthe records of ear national financial legiststioa.that, to place the matter beyond a prrsdventare,it was even proposed by the chief oflkarsofthaTreasury to mention in that law, la so manywords, Slate bank bills theretofore issuedas an exception to the obligations which might bepsid by the money about to be created, deuralngthat good faith with the holder* of theee Milerequired this and nothing leu. Congress, bring¬ing to besr upon this point the very high order oflegal talent which distinguished the commltteawhich perfected that law, suggested that ia thalimitations upon bsnks and their right t« redeemin anything else than specie.contained in theState constitutions, and especially In the coastita-tion of the State of New York, thsa which, aa'being operative at the commercial centra of thaUnion, no instrument deserved more considera¬tion.waa to be found full and perfectto the people upon this pointj^that therecorporations were absolutely prohibitedpsying with paper what their had promisedto pay in coin, ami from makiag conse¬quent exaggerated speculations upon thacommerrisl exigencies of the natioa. Thaproposition of the Treasary Depsrtment was die-tsted by a desire to protect the interests of thapeople. In concurring* with the Congresetoaalcommittee It did not abaadoa the belief that goadfaith with the holders of theee State bank hille.and the snccese of its nesycheme of nationalbanks, both Imperatively demanded that the oldbsnks should make their premises good in specie.We have positive and reliable asenrawe that thisstill ia the belief of the Treasury Department, andthat the federal government will be gratifted byany action either of the executive

or Judicialbranches of our State government which will cea-duce to this end. The State t>snk« are state la-

stitutions. The federal gorernment, therefore,leaves their fats to the Jodictsry and the exeentiveaof the States. At the same time the federal gar.emment. snd especlslly the Treasury breach of It,in wide swake to what Its own interests require atthis juncture H» reference to these banks, snd that lathst they be held to perform whet they promised.Ws ere told that In the recent argvmeat ef thalegal tender clau«e before our Court of Appeals,counsel, possibly in the Interest of the beaks si