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SAVANNAH DAILY HERALD. . Kk - ‘H- h* c ..A* * Ok-- VOL. 1-NO. m fit The Savannah Daily Herald (iIORNING AND EVENING} n rcßuaaxD n O. W. MASON «fc CO., At 111 Bat Street, Savahhar, Grown. * terms: Per Copy Phr* Ceuta. Per Hundred 60. per Year -...• $lO uo. ADTumtHs: Two Dollars per Square of Ten Lines for first In sertion; One Dollar for each subsequent one. Ad vertisements inserted in the morning, will, if desired, appear in the evening without extra charge. ' * JOB PRINTING every style, neatly and promptly done. fluctuation in the value of v * GOLD. No. ?. It is not difficult to show in what maimer the price of gold is influenced during war and a suspension of specie payments by other than commercial circumstances—by demand and supply. The peculiar character of the precious metals, as the universal equiva lent, afford the widest field for speculation, irrespective of the laws of trade. As regards every other commodity, the ground of specu lation is the expectation or anticipation of scarcity, more especially if it is a necessary of life. The apprehended failure of the supply of bread stuffs will induce extensive specula tions, and so measurably with regard to other commodities; but in relation to gold and silver, the law of demand and supply seems to be inoperative. No matter how deficient the quantity brought to market, the simple fact that these metals are universally desired for their ownsakes, afford the most unbound ed scope to speculation. The fluctuations during the period that specie payments are suspended aTe governed by no supposed pro portion between the quantity of money and the quantity of commodities, but by mental impressions—by the hopes and tears of buy ers and sellers. The precious metals are thus withdrawn from the sphere of those commercial circumstances that ordinarily in ti uence prices. Bach a condition of things can be but tem porary, as it is a departure trom a natural and normal state of things. We have said that these fluctuations are temporary in their character. They are the result of social irregularities, of war, of the over-issue with the depreciation of paper money by banks and governments. The rectification soon follows the abuse. Bnt in these general changes in the value of the precious metals, arising from their increased quantity without a correspondent increase of the quantity of commodities, they are of very unfrequent occurrence, and are invariably followed by eras of marked improvement, by the extension of trade with the increase of wealth and population. There was but one revolution in three centuries in the value of silver, notwithstanding its prodigious in crease in the sixteenth century, and there has been no fluctuation in the value of gold, in spite of the magnitude of the amounts re ceived from California and Australia. Gene ral wealth, trade and population have kept pace with this very large increase of golden treasure, and the general range of prices has undergone little or no alteration. Very extensive inquiries have been made in this branch of statistics by Adam Smith, Gamier, Gilbert Stuart and Mr. Tooke, in hi* “History of Prices,” and others. Almost the only exception to this remark is Michel Chavelier.3 whose authority is deservedly high, and who anticipates a great fall in the value of gold or rise in the priee of commo dities within 4he next ten years, thus ignor ing that extension of commerce and industry Which has marked the first ten years of the gold discoveries, preventing any decline in their value. A9 evidence that the uses otgold and silver are enlarged with the supply, we quote from ColvMles’ “Ways and Means of •Payment,”' an'admirable summary of the conclusions at which Arthur Ibung had ar rived on this interesting subjem. “We have seen in the table deduced from Arthur Young’s “Progressive value of Mo ney” that the average prices of the 18th cen tury were only an advance of 24 per cent, over those of the Isth century, whilst an an addition of 880 per. cent, had been made to the stock of the precious metals; that the average prices of the 17th century were ad vanced 80 per cent, over those of the 16th century, aud the addition to the stock of the precious metals 875 per cent; that the aver age prices of the 18th century over thoae of the 17th, were an advance of 11 per cent, and the addition to the stock of the precious me tals 1120 per cent, and to make the case more striking that the prices of the 18th cen tury over those of the 15th, were in advance of 108 per cent, whilst the addition to the stock of the precious metals, in the three centuries, had been 1120 per cent. It is Worthy of remark that the average prices of the 17th century over those of the 15th, covr ering a period before the use of paper mo °ey, exhibit an advance of 111 percent; 'Whilst the average prices of the 18th cen tmY. tn which there was a great use of paper cur mey, besides the immense increase of tlk precious metals just noticed, present an SAVANNAH, GA., SATURDAY, APRIL 29, 1865. advance over those of the 17th of only 11 per cent." These facts throw great light on the ques tion of the relation of the precious metals to the commerce and industry of the world, ia their effect on prices. That the average prices of the 18th over the 15th century, be fore there .was use of paper money, was 111 per cent., while the average prices of the 18th, in which there was great use of paper money, besides an immense increase of the precious metals, presenting an advance over those of the 17th of only 11 percent., demon strates in the most conclusive manner that commerce and industry, wealth and popula tion have kept pace with the increase of the precious metals, and that apprehensions need not be entertained of any material fall in their value or rise of prices. They further demonstrate, that it is not essential that there should be an augmentation of the precious metals to produce an advance of prices, but that prices advance by the agency of credit fuily as much, if not more, than by that of metallic money. It does not follow that an addition to the circulating medium, whether consisting of the precious metals or of paper, will not enhance prices, for the eff&t of such addition being to increase the purchasing power of its possessors, through increased competition, by augmenting de mand, will advance prices. Nor is it meant to be affirmed, that an increase of the precious metals will not ad vance prices considrrsbly for a short period, until the equilibrium is restored between the quantityof money and the quantity of commodities, for the sudden dis covery of new and productive mines may augment the stock of the prec ious materials more rapidly than the wealth and productive power of the world can absorb the increased quantity, as was manifessed in the fall of silver and the rise of commodities in the 16th century. All that is meant to be affirmed is that prices are not dependent exclusively on the quantity of money, whether paper or metallic, but partly on those substitutes for money, to be found in bills of exchange, checks, book debts, and those other devices in use for economi sing the use of money. Prices may go on advancing by the agency of credit, without the intervention of money of any kind. It is also easy to conceive, that prices may advance by the combined agency of money and credit, as it is to imagine that prices may recede while money augments, or ad vance when money diminishes. We have some further remarks to make on this sub ject, which wo must reserve for another opportunity. V IMPORTANT FROM WASHINGTON. Revocation of the Order* Anignl*| Gen. Ord to the Command of th# Department of the South. Washington, April 22, 1865. By direction of the President the Depart ment of Virginia, and such parts of North Carolina as may not be occupied by the commands of Major-General Sherman, and including the Army of the Potomac.. will constitute the Military Division of the James. Major-General H. W. Halleck, United States Army, is assigned to the Military Division of the James. General Orders No. 65, current series, assigning Major-General Ord to the command of the Department of the South, is revoked. General Ord will retain command of his present army, and report to Gen. Halleck. SAN FRANCISCO. DESTRUCTION OF NEWSPAPER OFFICES. The arrival of the news of the assassination of President Lincoln at San Francisco, caus ed intense excitement, and gave rise to the most emphatic indignation. The Democratic papers of San Francisco and two papers of the same political complexion in Marysville and Grass Talley, were mobbed. Ben Francisco, April 16.— Arrived Pacific mail steamer Golden City from Panama, with New York mails and passengers to the 23d ult. The destruction of the Democratic papers last evening was the sudden outburst of long pent up indignation at their opposition to the government all through the war. It was ex cuted with such rapidity that the authorities were unable to prevent it. At night-fall the military were in possession of the street and all approaches to ft. which prevented farther violence in that quarter of the city. The French Organ was threatened and is now under guard. The Union and American was destroyed. Intense edteitement prevail ed all night. San Francisco, April 17.—Atallrge meet ff the citizens, held Sunday, the Mayor presiding, resolutions were passed, among which were the following, which amply ex- P r ®jjae 9 the general feeling on this coast: “ The great, capacious manly heart of Abra ham Lincoln was generous enough to em brace all within the forgiveness of its loving nature, and in their madness they have killed him. Before his death, Peace was possible*"* all the atmosphere was filled with geneious emotions and kind sympathy. Now Peace means subjugation. God have mercy on the souls of the rebel chiefs.” •When this was read there was great ex citement, and the people cheered over and over again. A committee of fifty citizens was appointed to make preparations for the obsequies of the President. All loyal citizens are requested to wear crape for thirty days. No disturbance of the public peace has oc curred since my last despatch. The military are still under arms and patrol the streets at intervals but there is no probability of further disturbance. Despatches from Nevada and Orcfon Are moved equally with California. . THE POLICY OF THE PRESENT ADMINISTRATION. IMPORTANT SPEECH FftOl PRESIDENT . JOHNSON. iNc — : Address to the Indiana Delegation* HIS VIEWS OF TREASON AND RE CONSTRUCTION. When the-ligliana Delegation called to pay their respects to the new President, after re turning his thanks, he addressed them as follows: : la reference to what my administration Will be while | occupy ifly present position I must refer you to the past. You may look back to it aa jfridence ot what my course will be. And infßereuce to this diabolical and fiendish rebellion, sprung upon the country, all I have to dh is to ask you also to go back and take mv course in the past, and from that determine what my future will be. As to making a declaration, or manifesto, or mes sage, or what you may please to call it, my past is a better foreshadowing of my future course than any statement on paper that might be made. Who, four years ago, look ing down the stream of time, could have delineated that which has transpired since then? If we knew so little four years ago «rs what has passed; since then, we know as little what events will arise in the next four years. But as these events arise I shall be controlled in the disposition of them by those rules and principles by which I have been guided heretofore. - Had it j*ot been for extraordi nary efforttein part owing to the machinery of the Staijf you would have had rebellion as rampanf>'ih Indiana as we had it in Ten nessee. Treason is none the less treason whether it be in a free Stale or in a slave State; but if Vhere could be any difference in such a crime, he who commits treason in a free State is a greater traitor than he Who commits it in a slave State. There might be some little excuse for a man who based his treason on his possession of slave property; but the traitor in a free State has no excuse, but simply to be a traitor. (Applause.) Do not, however, understand me to mean, by this that any man should be exonerated from the penalties and punishments of the crime of treason. The time has arrived when the American people should understand what crime is, and that it should be punished, and its penalties enforced and indicted. We say, in our sta tutes and courts, that burglary is a crime, that murder is a crime, that arson is a crime, and that treason is a crime; and the constitu tion of thq United States and the laws of the United States say that treason shall consist in levying' war against them, and giving their enedea aid and comfort I have just remarked that burglary is a crime and has Rs penalties, that murder is a crime and has its penalties, and so on through the long catalogue of crime. To illustrate by a sad event, which is before the minds of all, and which has draped this land iu mourning, who is there hem who would say if the assas sin who has stricken from our midst one be loved and revered by all, and passed him from time to eternity—to that bourn whence no traveller returns—who, I repeat, who here would say that the assassin, if taken, should not suffer the penalties of bis crime? Then, if you take the life of one individual for the murder of another,, and believe that his property should be confiscated, what should be done with one who is trying to assassinate this nation ? What should be done with him or them who have attempted the life of a nation composed of thirty mil lions of people ? We were living at a time when the public mind had almost become oblivious of what treason is. The time has arrived, my coun trymen, when the American people should be educated and taught what is crime, and that treason is a crime, and the highest crime known to the law and the constitution. Yes, treason against a State, treason against all the States—treason against the government of the United States—is the highest crime that can be committed, and those engaged in it should suffer all its penalties. I know it is very easy to get up sympathy and aerrti* meat while’ human blood is about to be shed —easy to acquire a reputation for leniency and kindness; but Sometimes its effect and practical operation produce misery and woe to the mass of mankind. Sometimes an in dividual whom the law has overtaken, and on whom its penalties are about to be im posed, will appeal and plfad with the Exec utive for the exercise of clemency ; but be fore its exercise be ought to ascertain what is mercy and what is not mercy. It is a very important question, and one which de serves the consideration of those who moral ize upon crime and the morals of a nation— whether, in some cases, action sbpuld not be suspended here and transferred to Him who controls all. There, if innocence has. been invaded, if wrong has been done, the Con troller and Giver of All Qood—one of whose attributes is Mercy—will set it right. It is not promulging anything that I have not heretofore said, to say that treason must be made odious, that traitors must be pun ished and impoverished. (Applause.) They must not only be puuished, but their social ‘ power must be destroyed., If not, they will still retain an ascendency, and may again become numerous and powerfnl; for, In the words of a former Senator of the United States, “When traitors became numerotfe enough, treason becomes respectable.’ 1 And I say that, after making treason odious, every Union man and the government should be remunerated dut of the pockets of those who have inflicted this great suffering upon the country. (Applause.) But do not un derstand me as saying this in a spirit of an ger ; for, if lunderStand my own heart, the reverse is the case. And while I say that the penalties of the law, in a stern and in flexible manner, should be executed upon conscious, intelligent and influential frai-» tors—the leaders, who have deceived than-- sands upon thousands of laboring men who have been drawn into this rebellion; and while I say as to the leaders pun ishment, I also say leniency, conciliaiton and amnesty to the thousands whom they [nave misled and deoelved. And in reference to Sthis, as I remarked, I might have adopted ur speech as my own,'* As my honorable end knows, I long since took the ground that this government was sent upon a great mission among the nations df the earth—that ft ted A great work to perform and that in starting it, ft was started in perpetuity. Look hack for one single moment to the articles of oonllederation, and then come down to 178 TANARUS, when the Constitution was formed. Wfiat do you find 1 4 ‘That we, the people of the United States, in order to form a more perfect government," Ac. Provision is made for the admission of new States to be added to old ones embraced within the Union. Now turn to the constitution. We find that amendments may be made?! by a recommendation of two-thirds of the mem bers of Congress, if ratified by three-fourths of the States. Provision is made for the ad mission of new States: no provision is made for the secession of old ones. The instrument was made to be goodin perpetuity, and you can take hold orlt, not to breakup the government, but to goon perfecting it moft and more as it runs down the stream of time. We find the government composed of integral parts. An individual is an integer, and a number of individuals form a State, and a State itself is an integer; and the various States form the Union, which is itself an integer, they all miking up the gov ernment of the United States. Now we come to the point of my argument so far as con cerns the perpetuity of the government. Wtf have seen that the government is composed of parts, each essential to the whole, and the wholeeasential to each part. Now, if an in dividual part of a State declare war against the whole, in violation of the constitution, he, as a citizen, has violated the law, and is responsible tor the act as an individual.— There may be more than one individual. It may go on till they become parts of States— the rebellion may go on increasing in num bers till State machinery is overturned, afid the country becomes like a man that is par alyzed on one side. Bat we find la the con stitution a great panacea provided. It pro vides that the United States—that is, the great integer—shall guarantee to each Stats (the integers composing the whole) in this Union a republican form of government. Yes, if rebellion has been rampant, and set aside the machinery of a State for a time, there stands the grate law to remove the par alysis and revitalize it, And put it on Its feet again. When we com* to Understand our system of goverment, though it be complex, f>e see how beautifully one part acta in har mony with another. Then we see our gov ernment is to be a perpetuity, there being no £ revision for puffing ft down, the Union be lg its vitalizing power, imparting life to the whole of the States that move abound it like planets round thq sun, receiving thence light, and heat, and motion. Upon this idea of destroying the States my position has been heretofore well known, and Iste no cause .tQ. change it now*; and I am glad to hear its restoration on the present occasion. Some are satisfied with the idea that stales are to be lost in territorial and other divisions—are to lose their character as States. Bnt their life breath has been only suspended, and it is a high constitutional obligation we have to secure each of these States in the possession and enjoyment of a republican form of gov ernment. A State may be in the government with a peculiar institution, and by the operation of rebellion lose that feature. But it was a State when it went into rebellion, and when it comes out without the institution it is still a State. (Great Applause.) I hold it as a solemn obligation in any one of these States where the rebel armies have been beaten back or expelled—l care not how small the number of Union men, if enough to man the ship of State—l hold it, I say, a high duty to protect and secure to them a republican form of government. This is no new opinion. It is expressed in conformity with my under standing of the genius and theory of our government Then, hi adjusting and putting the government upon its legs again, 1 think the progress of this work must para into the hands of its friends. (Applause.) If a State is to be nursed unui it again gets strength, it must be nursed by its friends, not smothered by itsenemies. (Applause.) Now, permit me to remark that while I have op posed desolation and disintegration on the one hand, on the other I am equally opposed to consolidation—(applause)—or the central ration of power in the hands of a few. In conclusion, I will repeat that the vigor of my youth has been spent in advocating those great principles as the foundation of our government and therefore I have been denounced by many as a demagogue. I was striving to please the people. lam Dee to say to you that my highest ambition was to {lease the people; for J believed that when pleased them I was pretty nearly right { and being in the right I didhot care who assailed me. But I was going to say that I have always advocated the principle that govern ment was made for man. not man for govern ment-even as the Good Book says that the Sabbath was made for man, not man for the Sabbatb. So far as in me lies, those prin ciples shall be carried out. A Proposition to Assassinate Mr. Lin coln. — A citizen of Chicago, who was a member for some time of the K- G- C. Lodge in this city, writes to the Chicago Tribune: Chioaoo, April 18, 1865. Editor* Chicago Tribune : There is one fact which I think should be known. Last fall, while a member of the Sons of liberty, in this city, 1 heard and in stantly reported to General Sweet, which w «>rts were forwarded to the War Depart ed at Washington, a distinct proposition made to raise #50,000 to send a man to W-asbingiod to assassinate President Lincoln, and I have not a particle of doubt thq plan originated with and waa executed by the “Son* of Liberty.” Isis proposed to «Mft if monument in Washington to commemorate the virtues of the late President, by contributions of Are dollars each from a million contributors. PRICE. 5 CENTS [Front our Extra of yesterday afternoon.] IMPORTANT FROM THE 19- TERIOR* Exploits of Shu. Wilson’s Column, THE CAPTURE OF SELVA, MO9TT - «OVERT, COLUMBUS AND VAROV. Interesting Details. (Specially Reported for theSavasnah Dally Rscald.* • "la our evening edition Wf briefly announc ed the arrival of Capt. L. M. Hoaea, of Gen, Wilson’s Staff; from Macon. He left there five days ago. In the party was Brig. Gen. Long, commanding the Sec ond Division in the assault on Selma, and one of Ids Staff. Gan. Wilson left Chickasaw, Ala., on the 23d of March. On the 2d Os. April he captured Selma, Ala., by assault, taking 82 pieces of artillery in position and 75 in arsenal; a large arsenal, the second in importance In the Confederacy; a naval foundry, very extensive, with valua ble fixtures; powder works, Ac., &£. All public property was destroyed.* A pontoon bridge 85&feet long fat built across the Ainham* River, by which Mont gomery was reached. There the retrain burned 85,000 bale* of cotton, five steam boats, 68 cars, one locomotive. Montgomery was entered without opposition, on the nth of April. m 'V"*, * - Columbus was captured on the 16th, by asault on the heavy field works. 9 1200 pris oners were taken, 68 guns in position, one gunboat, then-called the Jackson, bub the name of which hid been recently chang ed, mounting six 7-inch rifles, 100,0&0 bales of cotton,* 13 locomotives, etui *)0 cars. While there, a portion of the column made a detour to West Point, and captured the works by assault. The attack was made by dis mounted cavalry. They took 4 guns, and 850 prisoners, The Confederate General Tyler, commanding, was killed; 16 locomo tives and 300 care were taken. All the captured property was destroyed, . Macon surrendered without assault on tbs' 20th. The Confederate Generals Howeil Cobb, GtwtaViisW. Mercer, Bobert ton, and McCall, were takenTto&ether -TWitea a large number of officers, es all ranks, and 1600 prisoners altogether. Wilson’s forces had traveled 481 ttiHaS. marching 20 days. They took in ill 189 guns, in position and in the field, and SO gone in arsenal. A large number of rolling mills and Irou foundries were destroyed, naval foundries powder works, magazine*, supply depots, Ac., Ac. Selma itself was 240 miles from the base of operations. There is scarcely an officer on the staff who has not made personal captures of pris oners during the expedition. The force is-made up mostly of westsrn troops. Our losses; in all the engagements, amount to less than 850. The enemy’s loss at Selma is estimated by themselves teffcom four to five hundred. Capt. Hosea has left?, here, to report via Hilton Head, .to Gen. Sherman, with des patches. ' _*'?!, PRISONER 9HOT WHILE ATTBVPT ING TO ESCAPE FROM A GUARD HOUSE. ■ f ' • This afternoon at 8.40 o’clock, a soldier was shot, in Bay Lane, in the rear ot the Herald Press room, while attempting to es cape from the Guard House on the opposite side of the lane. His name wsrJehn King, and he was a private belonging to Company D, 12th Ms. Yols. \ He was arrested this morning by the Po lice for drunkenness, and profane and in decent language in the street. He ran into the lane, and attempted to escape into Drayton street. The sentinel on the beat halted him twice, and then shot him through the neck, killing him almost instantly. The guard seems to have dona only hla duty, and the case should be a Warning to all who are inclined to thp same misconduct ea the man who was shot. ' The Royal Geographical Society of Eng land is discussing the practicability of efforts to discover a passage to the North Pole, hopes of which discovery are still enter&ia ed by many of the members. .. ~Sir~Henry Bulwer is on a visit to Egypt to plan anew line of railroad from Alexandria to the Red Sea.