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SAVANNAH DAILY HERALD. VOL. 1-NO. 121. The Savannah Daily Herald (MORNING AND EVENING) 18 PUHLIBHED BY a w. mason co.. At 111 Bay Stbeet, Savannau, Geobula. TEBMB: Per Copy Five Cents. Per Hundred $3 60. Per Year *lO 00. advebtisino: • 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, In every style, neatly and promptly done. JijStmness fejWbs. P M. BRUCE. ‘dealer EXCLUSIVELY IN COTTON. —AND— FOREIGN AND DOMESTIC EXCHANGE, AUGUSTA, GA. The undersigned has made every arrangement"to resume his commercial pursuits so soon as trade res Dictions are removed. I will be prepared to receive, store, insure, compress, ship, sell or purchase Cotton, and make advances on'shipments to any markets in the United States or Europe. I respectfully invite correspondence, samples and shipments by both Planters and Merchants, assuring all that they can rely upon prompt responses and the fullest information. E. M. BRUCE. I refer to Merchants generally throughout the U. S. and to Members of Congress. ju3-I‘2t Q.ADEN & UNCKLEB. GENERAL PRODUCE AND COMMISSION MER CHANTS, AND WHOLESALE DEALERS —IN GROCERIES, PROVISIONS. &0., CORNER or BAY AND BARNARD STREETS, SAVANNAH, GA. Highest market rates paid for Cotton, W 001, Hides &c., and liberal cash advances made on shipments to our New York house, jo3-lm A MURDOCK, AGENTS FOR IbICAKT. R. HEALY, Wholesale Dealers in ALES, WINES and IMPORTED L IQUORS, Os all Kinds and Qualities. No. 6, MERCHANTS' ROW, Hii.ton Head, 8. C junel lino JM PORTED AND DOMESTIC WINES AND LIQUORS, AX WHOLESALE, FOR FAMILY USE, , AT 207 BAY STREET. ■ISRAEL R. SEALY & CO may24-tf gAVLLLE & LEACH, BOOKSELLERS AND STATIONERS. MERCHANTS’ ROW, HILTON HEAD, S. C., —AND— , CORNER BRYAN STREET AND MARKET SQUARE, SAVANNAH, GA. may3o ts •pMtWIN & HARDEE, FACTORS AND COMMISSION MERCHANTS, 11 A ¥ SI B 811, SAVANNAH, GEORGIA. Robert Erwin, Chau. 8. Hardee, may3l-eod2m J~ewis lTjones; SHIPPING AND COMMISSION MERCHANT, No IT Broadway , New York. Liberal advances on Shipments to above Consign ment, made by . *HUNTER & GAMMELL, Agents Pioneer Line Steamships, 64 Buy Street, Savannah. Reference in New York— Messrs. Spokford, Tij.kston A Cos. , * may.'ti QHARLES L. COLBY & CO. SHIPPING, COMMISSION AND FORWARDING MERCHANTS. JONKS UI.OCJC, CORNER MAY AND AIIERCORM STREWS, SAVANNAH, GA. LIBERAL CASH ADVANCES Made on Consignments to the firm of Chas. L. Colby, •of New York, or to our friends in Boston. A. H; lIOLWAY, Resident Partner. Messrs. Dabney. Co!, New York. Jalive Slade, Esq., New York. Hon. J Wiley Edmunds, Boston. Gardner Colby, Esq., Boston. may 18—ts STEELE A BURBANK, ~ Merchants'Row, Hilton Head, S. C. Call the attention of Wholesale and Retail purchasers to their superior stock of MILITARY AND NAVAL CLOTHING ANl> FURNISHING GOODS, Watches, Clocks, Fancy Goods, Jewelry, and Plated Ware,Swords, Sashes, Belts, Embroideries,Boots, Caps Fi Glasses, Gauntlets Gloves. Ac., Ac., Jfcc. PARTNERSHIP, The undersigned have this day formed a co-partner ship under the firm name of Charles L. Colby A Cos, lor the transaction of business as Shipping, Commis eion and Forwarding Merchants. CHARLES L. COLBY, ALEXANDER H. HOLWAY, S. PAGE EDMANDS. Savannah. Ga., May ICth, 1605. ts niavlT Baker y a confectionkk i kstacubti- MENT AT BEAUFORT. We respectfully call the attention of the public to our Bakery A Confectionery Establishment in Sam. A. Cooley's Building ut Beaufort, at which we are prepared promptly to till any orders which may be for warded to us. Special attention is paid to the man ufactUre of Ornamental Pieces, Fancy Confectionery, and Elegant Pastry, for holiday ors estival tables. a-ts McManus a Murray. YORK HERALD CORRESPONDENT. The office of the New York Herald Correspondent .111 BAY BTRE KT, 0» STAIRS, mar 22 SAVANNAH, GA., WEDNESDAY, JUNE 7, 1865. JJNITED STATES DEVEN-THIRT? LOAN. TIIIRD SERIES, TWO HUNDRED and THIRTY MILLION DOLLARS. By authority of the Secretary of the Treasury, the undersigned, the General Subscription Agent for the sale of United States Securities, offers to the public the third series ol Treasury Notes, hearing seven and three-tenths per cent, interest per annum, known as the SEVEN-THIRTY LOAN. These notes are issued under date of July 15, 1865, and are payable three years from that date iu curren cy, or are convertible at the option of the holder into U. S. FIVE-TWENTY SIX PER CENT. GOLD-BEARING BONDS. JThese Bonds are now worth a handsome premium, and are exempt, as are all the Government Bonds, from Statx, County, and Municipal taxation, which adds from one to three per cent, per annum to their indue, ac cording to the rate levied upon other property. The interest is payable semi-annually by coupons attached to each note, which may be cut off and sold to any bank or banker. The interest at 7.30 per cent, amounts to One cent per day on a SSO note. Two cents per day on a SIOO note. Ten cents per day on a SSOO note. Twenty cents per day on a SI,OOO note. One Dollar per day on a $5,000 note. Notes of all the denominations named will lie prompt ly furnished upon receipt of subscriptions. The Notes of this Third Series are precisely similai in form and privileges to the Seven-Thirties already sold, except that the Government reserves to Itself the option of paying interest in gold coin at 6 per cent., in stead of 6 3-lOths in currency. Subscribers will deduct the interest in eurrencynpto July 15th, at the time when they subscribe. The delivery of the noteß of this third series of the Seven-thirties will commence on the Ist of June, and will be made promptly and continuously after that date. The slight change made in the conditions of this THIRD SERIES affects only the matter of interest, The payment in gold, if made, will be equivalent to the currency interest of the higher rate. The return to specie payments, in the event of which only will the option to pay the interest in Gold be avail ed of, wouid so reduce and equalize prices that pur chases made with six per cent, in gold would be fully equal to those made with seven and three-tenths per cent, in cnrrency. This is THE ONLY LOAN IN MARKET , Now offered by the Government, and its superior ad vantages make it the GREAT POPULAR LOAN OF THE PEOPLE. Less than $230,000,000 of the Loan authorized by Congress are now on the market. This amount; at the rate at which it is being absorbed, will all be subscrib ed for within sixty days, when the notes will undoubt edly command a premiuifl, as has uniformly been the case on closing the subscriptions to other Loans. In order that citizens of every town and section of the country may be offorded facilities for taking the Loan, the National Banks, State Banks, and Private Bankers throughout the eountry have generally a; reed to receive subscriptions at par. Subscribers will select their own agents, in whom they have confidence, and who only are to be responsible for the delivery of the notes for which they receive orders. JAY COOKE, Subscription Agent, No. 114 South Third Street, Philadelphia, may26-15t HEADQ’KS DEP’T OF THE SOUTH,) Hii, tom Head, S. C.,May 31, 1865. ) General Orders,) No. 80. / The following General Orders from the War Depart ment, are published for the government of the officers and the information ot the people in this command, and District Commanders are charged with the execu tion thereof • WAR DEPARTMENT, j Adjutant General’s Office, > Washingtou, May 11, 1566. I General Orders.) No. 00 f Punishment of Guerrillas. All the forces of the enemy, east of the Mississippi river, having been duly surrendered by their proper Commanding Officers to the Armies of the United States, under agreements of parole and disbandment, and there being now no authorized troops of the ene my east of the Mississippi river, it is— Ordered; That from and after the first day of June, 1865, any and all persons found in arms against the United States, or who may commit acts of hostility against it. east of the Mississippi river, will be regarded as guerrillas, and punished with death. The strict enforcement and execution of this order is especially enjoined upon the Commanding Officers of all United States forces within the territorial limits to which it applies. By Command of Lientenant-General Grant. K. I). TOWNSEND, Assistant Adjutant General. By Command of Maj. Gen. Q. A. GILLMORE, W. L. M. Burofr, Assistant Adjutant General. T. D. Ho does, Capt. 35th IT.l T . S. 0.T., Act. Asst. Adjt. Gen. jes it HEADQ’RS DISTRICT OF SAVANNAH,) Sanannaii, Ga., June 4, 1565. / General Orders- 1 No. In consequence of the great increase in his duties as Assistant Commissary of Musters for the District of Sa vannah, Capt. M. Bruedict, A. C, M., aud Provost Judge of the Secoud Provost Court, will relinquish his duties in the latter office to Capt. T. P. Kundlett. 33th Mass. Vols., who w ill from this date assume the same. By Command of Brevet Major-General C. GROVER. Oliver Matthews, A. A. G. jes 7t fOfflcial.j HEAIKfRS DEPT. OF THE SOUTH, Hilton Head, S. C.. May 24,1866. General Orders,) No. 611. / The following Despatch from the War Department is hereby published for the information of this com mand : WAR DEPARTMENT, Adjutant General’s Office, Washington, D. C., May 15, 1865. The Secretary of War directs that you call attention of all Regimental and Company Commanders of your Command, to the importance of having their regimen tal and company records so completed and arranged that at any time the mu«ter-out rolls of their respect ive Commands call be prepared without delay. Commissaries ot Musters und their Assistants,should give particular attention to the foregoing. By order of the Secretary of War, THOMAS M. VINCENT, ' Assistant Adjutant Gen’l. By command of Mr jor General Q. A. GILLMORE. W L. M. Buboes, A. A. G. j U 3-1 ON NEW YORK. FOR SALE BY H. BRIGHAM, ap26 If 93 Bay street. XI F.WS-DEALKKS AND OTHERS DESIRING Tbi IN Savannah Daily Herald at Whotaale are- re quested to send In their orders »s early Th advance m practicable. S. W, MASON A CO. A LECTPKE ON THE KEUITLATION OP THE CURRENCY. Bv T. F. McGrew, of Springfield, Ohio. [Published iu the May number of the Bank ers’ Magazine] Various quesUons connected with cnrren cy and prices are discussed with much abili ty and terseness of style in this lecture. The lecturer after enunciating the leading princi ples of currency, cites from Mr. Chas Mo ran, a high financial authority at the North, the following statement: “No influx of the precious metals and no iisne of hank notes, convertible into coin, ever produced a rise of prices ” He quotes from Tooke’s History of Prices “that while the influx of the precious metals from Mexico and South America in creased GOO per cent, the rise of prices equalled only 200 per cent, the latter occa sioned by the increase of industry, commerce and civilization.” The conclusion from this fact i9 not that there was no rise of prices from the influx of the precious metals into Europe, in conse quence of the increased supplies from Ameri ca ; but that their increase was greater than the increase of “industry, commerce and civilization,” or in other words, that the sup ply being greater than the demand the pre cious metals fell in value, and that prices rose proportionally. The fact is too well known, as part of the history of the times, that prices advanced greatly throughout Europe from the large influx of the precious metals, particularly silver, in consequence of there not being a correspondent inciease of commodities. There were three marked eras in the history of the precious metals previous to the increase of supply from the Oural moun tains and the Californian and Australian dis coveries.* * 1. In the 70 years between 1570 and IGIO there was a considerabfe influx of silver into Europe from the Spanish American mines, attended by a fall of its value and the rise of prices; and although the rise was only 200 per cent., jvhile the stock of precious metals had increased over GOO per cent., still there was an advance in prices, equal, of course, to the fall in tl e value of silver. * 2. It was about the middle of-the seven teenth century that there was a cessation of the decline of the precious metals, and then the supply was not more than adequate to the demand, from the extension of industry and commerce, and to replace the wear and tear, counteracting any tendency to a fall in their value as compared with commodities. Prices in that period were stationery N 3. The period embrace and within the com mencement and conclusion of the eighteenth century was marked by those improvements that economise the use of the precious met als for money. 4. Throughout that period when the Span ish American mines had failed, from intes tine troubles, to yield their usual quantity, aud before the Russian supply had appeared, the supply was not equal to the demand for purposes of commerce, and to replace the wear and tear. The value ot the metals in this period rose aud prices fell. The demand heiug much greater than the supply, prices would have risen inordinately high but for the ingenuity that supplies every hu man want. The invention of the various substitutes for money—the increase of banks of circulation —the use of hills of exchange, checks, book credits, &c, were all devices to economise the use of gold aud silver coin,aud to supply the void occasioned by the higher proportionate increase of wealth and popu lation. This disproportion continues, and should allay the fears of those who, like M. Chevalier, imagine that the value of the pre cious metals will fall within the next ten years, and prices coriespondently advance. “Credit,” says Mr. McGrew, “has a simi lar, it not the same, influence on prices that money has. It is a purchasing power, and commands the possession of commodities. It exhibits itself in the form of accounts, bank notes, bills of exchange, and promissory notes.” There is scarcely a distinction be tween “bank notes” and “promissory notes” as a form of credit. The only difference is, that the former i9 issued by corporations and, the latter by individuals or partnerships. - The influence of credit on prices is, at times, greater than that of money, meaning by mo ney that alone which possesses intrinsic value. This influence is shown iu the larger or whole sale operations of commerce. The influ ence of money, cold aud silver coin, on pri ces is exhibited in the retail transactions of society, which absorb a large proportional amount of the precious metals, in the form of money. The lecturer goes on to say, “ the issue of inconvertible paper money by government aannot be too much condemned. Its influ ence on prices is ot the most pernicious char acter. Money is the representative of wealth, which government issues are not, and they are therefore based upon a false and decep tive promise. It represents no property only the power iu government to levy taxes which are paid contentedly, when not considered burden- some ; hut in the form of inconvertible paper issues, a tax is actually levied upon the mass es to enrich the few fortunate ones; its very appearance is a proof of embarrassed finances. And there seems to be in the re mark of an eminent economist, that gov ernment has a direct interest in the de preciation of its own issues of currency, because it is the medium of its own debts. But when made a legal tender, it becomes the most odious form of our loan—a fraud upon the citizen compelling him to receive less for his debt than he agreed at the time he entered into the contract. And c it is as serted that there is not a single example on record of the power of creating money out of cheap materials having been exercised by a sovereign state for any length of time, or through any reason of public difficulty, with out having been abused. And the abuse of the power ends in finan cial disaster aud repudiation. So well sat isfied of this fact was the late Secretary of the Treasury Chase, that he cautions Con gress in the lollowing words : The limit prescribed by law to the issues of the United States has been reached. Con gress believes that four hundred million would suffice. The Secretary proposes no change o( limitation, and places no reliance, theretore, on any increase of resources from increase of circulation. Additional loans in this mode would indeed almost certainly prove illusory, for diminished value could hardly fail to neutralize increased amount/ But his own practice proves the charge, that government having resorted to the use of a cheap material tor currency will cou 'tinue the use of it until disaster destroys its credit.” There is sound doctrine in the above par agraphs, aud if it was the design of the lec turer lo prove that the theory of states men is widely nt variance with their prac tice, his argument wouid be But there is a law of necessity paramount to all theories. The late as well as the present Secretary of the Treasury has been charged with consistency between his theory aud practice,(sec Merchant’s Magazine for March, Commercial aud Review.) Now it is not to be supposed that either Mr. Chase or Mr. McCulloch, is so ignorant of the first principles of currency, as not to know that the issue by government of an ir redeemable paper currency, is not attended with all the evils, public and private, that is known to accompany a resort to this financial expedient. But the intelligent reader need not be informed that the general maxims of the philosopher have to be frequently modified in practice, and that public necessities often de mand such modification. A war requiring resources to a larger extent and more expe ditiously, than can he raised by loan or taxa tion often compels a resort to that cheap aud convenient device, paper money, uot from choice, hut absolute necessity, conscious that it is a system of supplying the treasury fraught with evil, but the public exigencies leaving no other alternative. Both Mr. Chase and Mr. McCulloch, must have plainly perceived that to carry on a war of such great magnitude, all the resources were re quired, that could he supplied from taxation, from loans, aud iu addition, from paper mon ey. f * * * [TO HE CONTINUED.]'' "To save the necessity of frequent reference, we would state once for ull that the facts stated iu the text ire derived from Tooke’s History of Prices. THE TRIAL OF THE ASSASSINS BE FORE A MILITARY TRIBUNAL. The Washington Chronicle has up impor tant article upon this deeply interesting mat ter. In a “statement of the reasons for the Government action in reference to the trial of assassins” two prominent fact sure brought up for consideration: Ist. The crimes of the night of the 14th of April were not for private ends; they were not the expression of personal malice, or for revenge, or the hope of gain. They were aimed at the Government, and Mr. Lincoln was murdered to aid the rebellion. Payne confesses that he never saw Mr. Sew ard until attempting to murder him, and that he did so because he was bound by an oath to do it. 2d. These crimes were hatched- in secret organizations ; and it appears that the very night of their execution was known and boasted of by enemies of the Government in Canada, New Hampshire, Maryland, Dela ware, and Wisconsin, showing wide-spread organizations, sympathizing, if uot directly aiding the attrocious crime. These two facts, aside from other informa tion acquired in the progress ot the investi gation, proved that the war hail assumed a new phase ; that whereas it had hitherto been conducted with large armies and some regard to the forms of civilized warfare, it was now to be carried on by small organ ized gangs of assassins within loyal States, affiliated with others across the Canada bor der, for robbing towns, burning cities, arid murdering officers of Government. The acts of Booth, Payne, and their fel lows iu crime, being acts of war, and in aid of the rebellion, why are they not pro perly cognizable in a military tribunal ? The only reason assigned by those who are plead ing for the assassins is that all the rebel | armies east of the Mississippi have aurreu- j dered. What if they have ? Were the murderers in Washington ou ili§ night of the 14th ot April, acts of peace ? Was the plun- PRICE. 5 CENTS der ot St. Albans a peace fill act? Are gangs ot assassins peaceful organizations? Are guerrillas to be indii’ted by grand juries and tried by civil courts? Is the murder ot the President and the attempted assassination of the Y T ice President, Secretary of State, and" commander of the armies, of so small account that the sacred right of trial by jury must be secured.to the assassins? It is not the war of armies and generals, matching in baltlearray that threatens us now. Armies are but one species ot hostile organizations. It is the war of the bowie knife and pistol, the murderer’s stealthy step, carrying the rebel war into the sick man’s bed chamber, into private houses aud public places—murdering in the iamily circle and iu hours of relaxation—this is the war now upon as. What If the rebel armies are broken to the Mississippi—are rebel as sassins to have safe harbor in Washington and New York, and lie guaranteed habeas corpus and trial by jury, to encourage their bloody work ? The secret organization and the hired assassin liave undertaken to do, by the knife and pistol, what the general and the army failed to do. In this new phase of wa/, it was thought the government might as well halt Sheridan in fall charge and com pel him to call a grand jury on the field of battle liefore he dared to hurt a rebel, as to expect to put down by such means this new and most dangerous of all savage, warfare, that has, in the very capital, murdered the President, made slmmbles in the bed-cham ber of the Secretary of State, and marked down other victims. [From the New York Herald.] THE LOSSES OF THE SLAVE STATES FROM THE WAR The actual losses of the South, including all the Slave States,‘in substantial wealth, from the late rebellion, will never be known. They are beyond the reach of the most in dustrious researches. The aggregate debts of three thousand millions of dollars in rebel scrip, incurred by the Jeff. Davis usurpation, afford no approximation to the extortions from and losses of his subjects in their ac counts with his Southern confederacy. We are, therefore, left mainly to conjecture the substantial losses of the South from the war. The slaveholders of all the Slave States, with the abolition of. slavery, will have lost the ever available cash capital in slave property, of about twenty-five millions of dollars; but the countiy in this item loses only the slaves actually destroyed or disabled by the War; and their losses of labor incident to the re volution from slavery to a free labor system. The material losses of the Slave States in the products of labor, from the rebellion, floubtless largely exceed at the present day a thousand millions ot dollars in gold, leav ing out of the calculation the terrible des truction and reduction entailed by the war upon, the population of the Slave States, whites aud blacks, men, women and children. Take the following items, estimated, of crops lost and property destroyed. Three average cotton crops lost, which, at a peace valuation, would mnonnt to $200,000,000 Lost, In four years, iu the products of rice, sugar and tobacco, pitch, tar and turpeutine 100,000,000 Property destroyed in ships, steamboats canals, navy yards, arsenals, forts, war magazines, lumber aud other building materials, railroads and railway buildings, 'bridges, machine shops, . rolling stock, Ac 200,000,000 In the destruction of cities,villages,mills, foundries, factories, farms and plant a tions, Including dwellings, outhouses, engines, implements, fences, horses, mules, cattle, &c 600,000,000 Aud we have a total of. $1,000,000,000 Incredible as these figures may appear, they fail to convey any idea approaching the ex tended and appalling scenes of destruction, desolation and destitution which prevail throughout the South. That comprehensive woid, exhaustion, has solved the problem of the rebellion, and, in their terrible exhaus tion, the late rebellious Stales and their peo ple stand before us to-day vanquished, sub missive, destitute and in a state of social dis organization anil confusion so broad and gen eral as to he beyond immediate relief. WENDRtx Phillips on the North Caro lina Proclamation. —At the session of the New England Anti-Slavery Con vention, held iu Boston . May 31st, Mr. Wendell Phillips reported a resolution to the effect that it |s the settled opfmon of the Convention that the reconstruction of the rebel States, without negfo suffrage, is a practical surrender to the confederacy, and will make the anti-slavery proclamatipn of the late President, and even the expected amendment of the constitution, utterly inef ficient for the freedom and protection of the negro race. i. ■## pW* Mr. Phillips supported the resolution in a vigorous speech. He contended that slavery was abolished, and that the reconstruction policy of the administration, as set forth iu the proclamation for the reconstruction of North Carolina, was an absolute surrender of the helm of the Union into the hands of Alexander H. Stephens and his co-workers, liecoustmctiou upon that basis was a prac : tical fraud upon the North. Every life -and I every dollar they lmd spent had been stolen | from them. There was but one way in < which tlie people could still hold the helm of affairs; knd- that was a declaration j of repudiation of the entire war debt.— Such a party would have his voice aud vote until God called him home.— He would constantly oppose every step of reconstruction that did uot place the negro upon an absolute equality and level with the ivhite man. There were but two parties in the countiy—the sycophants of Jeff. Davis, and the lovers of liberty. Every man who supported, the North Carolina proclamation was a Dayis sycophant. Better, far better, would it have been for Grant to have surren dered to Lee than for President Johnson to have sui rendered to North Carolina. All the Union Prisoners of War Re covered.—The Union prisoners delivered at Jacksonville, Fla., complete the recovery of all Union prisoners, as far as is known, and it is not believed that .any are now held in Texas. “ General Sherman’s Headquarters.— General Sherman is offered the choice of Cin cinnati, Louisville, Nashville or St. Louis, in which to establish his future headquarters.