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SAVANNAH DAILY HERALD. VOL. 1-NO. 122. The Savannah Daily Herald (MORNING AND EVENING) IS PUBLISHED BY S. W. MASON «fc CO., At 111 Bay Street, Savannah, Georgia. mm: Per Copy Five Cents. Per Hundred $3 50 Per Year .*.. .$lO 00. ADTIITIBIHS: Two Dollars per Square of Ten Lines for first in sertion ; One Dollar lor 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. ijjusitiess j^arbs. y 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 trictions are removed. I will be prepared to receive, store, insure, compress, ship, «ell or purchnee Cotton, aud make advances on shipments to any markets in the United States or Europe. I respectfully invite correspondence, samples and shipments by both Planters aud 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 £ UNCKLES. GENERAL PRODUCE AND COMMISSION MER CHANTS, AND WHOLESALE DEALERS —IN ** GROCERIES, PROVISIONS. Jt c, , CORNER OF BAY' AND BABNABD 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 * MURDOCK, AGENTS TOE ISEAEE B. SEALY’, Wholesale Dealers in ALES, WINES andIMPORTED LIQUORS, Os all Kinds aud Qualities. No. 5, MERCHANTS’ ROW, Hu .TON Head, S. C junel lmo JMPORTED AND DOMESTIC - “ WINES AND LIQUORS, AT WIIOLISUI, FOR FAMILY USE, AT 201 BAY STREET. ISRAEL R. SEALY & CO. may24-tf JCAVILLE dt LEACH, BOOKSELLERS AND STATIONERS. MERCHANTS’ ROW,, HILTON HEAD, S. C., —AND — * CORN Eli BRYAN STREET AND MARKET SQUARE, SAVANNAH, GA. maySQ ts ~jpMtWlN * HARDEE, FACTORS AND COMMISSION MERCHANTS, RAY ST BEET, SAVANNAH, GEORGIA. Robert Erwin, Cuas. SI Hardee, may3l-eod‘2m TTiones; : SHIPPING AND COMMISSION MERCHANT, So II Broadway , New York. Liberal advances on Shipments to above Consign ment, made by HUNTER dr GAMMELL. Agents Pioneer Line Steamships, S4 Bay Street, Savannah. Reference in New York— Messrs. Spofford, Tii.eston & Cos. may2G QHARLES L. COLBY * CO. SHIPPING, COMMISSION AND FORWARDING MERCHANTS. JONES BLOCK, CORNER BAY AND ABERCORN STREETS, SAVANNAH, GA. LIBERAL CASH ADVANCES Made on Consignments to the firm of Cuas. L. Colby, of New York, or to our friends in Boston. A. H. HOLWAY, Resident Partner. references; Messrs. Dabney, Morgan & Cos., New York. •Tarivs Slade, Esq., New York. Hon. J Wiley Edmunds, Boston. Gardner Colby, Ksq., Boston. maylo ts D TJSKLK & BUHBANK, O 11 Merchants’ Row, Hilton Head, S. C. Call the attention of Wholesale and Retail purchasers to their superior stock of MILITARY AND NAVAL CLOTHING AND FURNISHING GOODS, Watches, Clocks, Fancy Goods, Jewelry, aud Plated Wure, Swords, Sashes, Belts, Embroideries, Boots, Caps Fi _ Glasses, Gauntlets Gloves. &c„ <fec., &c. _ PARTNERSHIP, The undersigned have this day formed a co-partner ship uuder the firm name of Charles L. Coley & Cos., for the transaction of business as Shipping, Comrnis siou and Forwarding Merchants. CHARLES L. COLBY, ALEXANDER H. HOLWAY, STAGE EDMANDS. Snvnnnnh. Ga., May ltith, 1805, ts mayll Bakery * confectionery establish ment AT BEAUFORT. We respectfully call the attention of the public to our Bakery <ft Confectionery Establishment In Sam. A. Cooley’s Building at Beanfurt, at which we are prepared promptly to fill any orders which may be for warded to ns. Special attention is paid to the man ufacture of Ornamental Pieces, Fancy Confectionery, and Elegant Pastry, for holiday ors estival tables, Feb. ;i-tf McMANUS A MURRAY. YORK HERALD CORRESPONDENT. j °® ce °f the New York Herald Correspondent 111 BAY STREET, UPSTAIRS. mar 22 ts SAVANNAH, GA., THURSDAY, JUNE 8, 1865. Restaurants, |et E S TiTl TTvE " AT THE ‘‘OFFICE,’’ No. IX Merchant’s Row, PORT ROYAL, S. C. I do not advertise my Bill of Fare because it is alter ed every day aud a rrinted Bill of Fare is put on each table every morning. THERE IS WHERE THE LAUGH COMES IN. My Ice Houses are now filled with Turkeys, Chick ons, Beef. Pork, Fish, Mutton, Pork Sausages, Vege tables, and Salads of all descriptions. THERE IS WHERE THE LAUGH COMES IN, I have now on hand about'twelve hundred p ounds oflce, so that I can make Ice Cream EVERY DAY and keep my Soda Water and Beer cool. ice water for everybody. THERE IS WHERE THE LAUGH COMES IN. LI have three Punkahs and several girls with fans to Keep the flies from the ladies and gentlemen while eating their cleanly served up meals. THERE IS WHERE THE LAUGH COMES IN. My Cooks, Waiters, <fcc., are all clean. My Saloon has been newly papered, painted, whitewashed, &c. THERE IS WHERE THE LAUGH COMES IN. There is ro man in Port Royal that can serve up Clams in every style better than Mr. Fitzgerald, at the Eagle Saloon, in the rear of the Post Office, THERE IS WHERE THE LAUGH COMES IN. There are many men in New York who go to Water street, where they can get their whiskey for three cents per glass. But you will find that GENTLLEMEN will go where thoy get the best articles regardless of ex pense. AND THAT IS WHERE THE LAUGH COMES IN. HONEY IS UP AND SUGAR IS DOWN. BENJAMIN HONEY, Proprietor QLAMS! CLAMS 1 CLAMS! IN TUB SHELL OB SHELLED OUT, With other Refreshments, at the oldest and best stand ON HILTON HEAD ISLAND, For a va.iety of something Good to Eat at all times, at THE EAGLE SALOON, In rear oi the Post Office, Port Royal, S. C. PETER FITZGERALD respectfully informs his old friends, and the public in general, that since Oysters are out of season for a time., his Daily Patrons can find a good substitute in CLAMS, cooked to order, in every style, at the shortest notice. He has also a constant supply of FRESH MEATS, POULTRY, FISH & VEGETABLES, From the North and other places in this vicinity. Meals cooked to order at any hour during the day. Our motto is to “Live well.” PETER FITZGERALD, Proprietor. may 23 ts erics. M. SCARBROUGH & CO., GROCERY AND COMMISSION MERCHANTS, 110 Congress and 5T St. Juliann Streets, SAVANIXAH, GEORGIA., Offer for sale, AT WHOLESALE AND RETAIL, A LARGE STOCK of GROCERIES and PROVISIONS, Consisting of TEAS and SUGARS, best brands; COFFEE; CAN DLES, SOAP, FLOUR, HAMS, BACON, (Shoulder and Clear Sides); LEAF LARD, CORN MEAL, CAN PEACHES, PIE FRUITS and PRE SERVES, PEPPER, SPICE, GINGER, <fce., <fec., &e„ All o( which they are selling at reduced prices. Give them a call before purchasing elsewhere. jeC ' 1 mo JJILTON & RANDELL, WHOLESALE GROCERS, 193 BAY STREET, NEAR BARNARD SAVANNAH, GEORGIA. Will be in constant receipt per Steamers from New York, of an extensive and complete assortment of Goods consisting, in part, of SUGARS, SYRUP, ' MOLASSES, FLOUR, TEAS, COFFEE, BUTTER, CHEESE, LARD, SOAPS, STARCH, CANDLES. WINES, ALE 1 CIDER, ETC., ETC., ETC. To which they call the attention of the Trade. may23-4w • JUST received! * PER STEAMER CATHARINE WIUTING, 500 BBLS. EXTRA FAMILY FLOUR, R. H. For sale at low rates, by GADEN & UNCKLES, ju3-l w Corner Bay and Barnard streets. gACON. FOUR HIIDS. BALTIMORE BACON, For sale by BRIGHAM. BALDWIN & CO. tf Ijiutlls, pORT ROYAL HOUSE, HILTON HEAD, S. C. RIDDELL & RUGG, Proprietors. E. S. RIDDELL, M. f. RUGG. jU3-tf p U LA S K I H O U 8K , SAVANNAH, GA. BARTELS & RIDDELL, Proprietors. J. 0. BARTELS. E- 8- RIDDELL. [U3-*f * A LECTURE ON THE REGULATION OF THE CURRENCY. By T. F. McGrkw, of Springfield, Ohio. [Published in the May number of the Bank ers' Magazine.] NUMBER 11. We continue out remarks on this able lec ture. The lecturer says: “Having present ed the theory iu reference to the supposed in fluence of the currency upon prices, and the reasons for the comdemnation of bills of cred it, it will be proper to state, that for the reg ulation of the currency, three theories have been presented for the consideration of those, w’hose duty, it would seem to understand them, for the purpose of guarding against what is called a crisis. Ist. A convertible bank note currency, maintained at the par value of the precious metals, and fluctuating with the amoiint-ot it, that is there will be in circulation, one pa per dollar for a gold' or silver dollar displaced by it, and for which the paper can be imme diately exchanged. 2nd. The bank notes, so long as their convertibility is maintained, pos sess no power at all in raising prices, and that banks cannot increase their circulation, except as a consequence of, and in proportion to, an increase of business done. 3d. That hank notes do exercise a power in raising pri ces, and ought for that reason to be main tained at the value of the pricious metalsj but ought not to be made equal iu amount with them.” The lecturer offers iu illustration of the first of these theories the Bank of Euglaud, as originally chartered and as amended in 1844, as illustrating the principle of this theory. The amendment of the charter, it is well known, divided the bank into two de partments —the Banking and the Issuing de partment, The bank was bound to transfer to the Issuing department securities to the value of fourteen millions, the debt due by the government to the bank, it being made incumbent on the banking department to transfer to the issuing department gold-coin gold and silver bullion not required, and the issuing department was hound to deliver to the banking department such an amount of notes as with those in circulation should equal the secui ities, coin and bullion trans ferred to the issuing department. The issu ing department was compelled to keep for every pound in notes a pound of gold. The bank pays out gold for notes and exchanges— notes tor gold. This was a pet scheme of Sir Robert Peel as a preventive against the over issues of the Bank of England, and to protect the conver tibility of the paper currency. It met with considerable resistance, but was adopted un der what is supposed to be high financial au thority,but was found so restrictive as to com pel a relaxation of the law on two occasions, in 1847 and 1857, and but for which there would have been numerous bankruptcies. Sir Robert Peel in this regulation compell ing the bank to restrict its issues to a maxi mum, and leaviug nothing to the discretion of the directors, sought to subject to an arith metical principle that which is in its nature fluctuating, namely, credit. A limitation of issues in tranquil times, when those engaged in business pursue the “even tenor of their way, ’ does neither good nor harm, but when is much extended, and there exists a tendency to speculative excitement, accom panied by signs of panic, a limitation like this aggravates the evil of too extended credit. The principle that to maintain the convert ibility of Bank of England notes, they should fluctuate with the amount of gold in its vaults, attaches undue importance to the bank note, as if it were the only form of credit against the abuse of which it is necessary to guard. The other modes of credit, such as bills of exchange, and book debts, have much the largest agency in the general extension of credit, and bauk notes the least. Mr. Tooke has shown that in 1850 the average amount of bills ''f exchange in circulation at one time in the United Kingdom was about one hun dred millions sterling, or more than four times the amount of bank notes of all des criptions. The amount of property hourly transferred by check is very large, and the sums adjusted at the Clearing House in Lon don almost surpasses belief requiring only a small sum in bank notes for the settlement of balances. The theory, therefore, that the redundancy of paper money, on which is founded this amendment of tiie charter of the Bank of England, is based on a fallacy, i. e., that ex cessive issues are exclusively the source of high prices, and not those other forms ol credit that much more otten lead to disturb ance of prices, recoil, panic and bankruptcy. The influence on priced is only due, there fore, to bank notes. Tbe opposite theory noticed by the lecturer “that hank notes do not in any degree influ «ence prices,” is no less erroneous, we think, than that they have almost the sole agency in raising prices. On the contrary, prices ad vance of a great number of commodities at the very time that paper currency is restrict ed or curtailed. Mr. Tooke proved from an elaborate examination of prices that at peri ojs when the note circulation of the Bank of Englaud had been ’-educed, there was an ad vance of prices and rice ver.ta, when the notes were at their lowest amount pi ices were highest. The difference of prices is traced in almost every instance to the state of the mar kets—to some deficiency of supply or unu sual stimulus to the deni and. Still the agen cy of paper money in elevating prices can not be disputed. The distinction has not been sufficiently observed between the bank note circulation ot cities and country or interior towns. — There are important differences. In their issues country banks are governed by the local demaud. Their circulation fluctuates greatly at certain periods of the year.— These banks are passive compared with those situated at the centres ol trade. Local banks are under the influence of the local wants of their nhighborbood. It is no less true that bauks even in the large marts of trade are, to a considerable extent, acted on by the public, and are unable to keep in cir culation an amount of their issues that is ex cessive, tor the excess will be returned to be exchanged for specie. Yet it is not to be de nied that bauks indirectly contribute to the redundancy of the currency. The Hank of Englaud by lowering the rate of interest when the accumulation of gold iu its vaults becomes inconveniently large, gives at times uudue extension to credit. Nor can it be aftirmed that bank notes have not at other times an influence on prices, if not advancin' / them, preventing their./ii// during alarm and panic, by timely advances. With these quali fications it may be safely affirmed that 1. Bank notes compared with other forms of credit have only a limited influence on prices. 2. That in periods of specul/ttive ex citement and great extension of credit, they have a direct agency in preventing a fall of prices and commercial recoil. 'The above remarks apply exclusively to a convertible paper currency, aud have no ap plication to an inconvertible paper money issued by governments. %* [TO im CONTINUED.] A NEW STORY ABOUT ANDY JOHNSON. We find the following story about our new President going the rounds of the North ern papers: Mr. F. B. Carpenter, who spent several months in the White Houee, while painting his picture of the “Emancipation Proclama tion before the Cabinet,” contributes a sketch of the late President. It was a few weeks prior to the Baltimore Convention, before it was known that Gov ernor Johnson would be the nominee for the Vice Presidency. Said he, “I had a visit •last night from Colonel Moodv, the ‘fight l ng Methodist Parson, ’ as he is called in Tennes see. He is on his way to the Philadelphia conference, and being in Washington over night, came up to see me. He told me,” he continued, “this story of Andy .Johnson and Gen. Buel, which interested me intensely. Colonel Moody was in Nashville the day that it was reported that Buel had decided to evacuate the city The rebels strongly rein forced, were said to be within two days’ march ot the capital. Os course the city was greatly excited. Said Moody, “I went in search of Johnson at the edge of the even ing, and found him at the office, closeted with iwo gentlemen who were walking the floor with him, one on each side. As I en tered they retired, leaving me alone with Johnson, who came up to me manifesting intense feeling, and said, “Moody, we are sold out! Buel is a traitor! He is going to evacuate the city and in forty-eight hours we shall all be In the hands of the rebels. ’ Then lie commenced pacing the floor again, twisting his hands and chafing like a caged tiger, ut terly insensible to his friend’s entreaties to become calm. Suddenly he turned and said, “Moody, can you pray?” “That is iny business, sir, as a minister of the gospel,’’ replied the Colonel. “Well, Moody, I wish you would pray,” said Johusou ; and instant ly both went down upon their knees on op posite sides of the room. As the prayer be came fervent, Johnson began to respond in true Methodist style. Presently he crawled over on his hands and knees to Moody's side, and put his arm over him, manifesting the deepest emotion. Closing the prayer with a hearty “Amen!” from each, they arose. Johnson took a long breath, and said with emphasis, ‘Moody, I feel better.’— Shortly afterward he asked, ‘ W r ill you stand by me ?’ ‘Certainly 1 will,’ was the answer. ‘ Well, Moody, I can depend upon you ; you are one in a hundred thousand! ” He then commenced pacing the floor again.— Suddenly he wheeled, the current of his thought having changed, and said, ‘ Oh! Moody, I don’t want you to think I have be come a religions man because I asked yon to pray. lam sorry to say it, but lam not, and have never pretended to be religious. No one knows this better than you; but, Moody, there is one thing about it—l do believe in Almighty God! And I believe also in the Bible, and I say I’ll be damned if Nashville shall be surrendered!’ And Nashville was-not surrendered! —Brooklyn City, New York, is going to have an extensive spree on the Fourth of July, and has appropriated six thousand dollars to pay the expenses. —The young Princess, Helena, the youngest of the English Royal Family that has yet “come out” in the world of fashion, held her first “drawing-room” last month, taking the place of her mother, the Queen, in thus dis pensing the formal hospitalities of St. James Palace. The U. S. Minister and all the for eign Embassadors were present- PRICE. 5 CENTS [We rtpnblinh the following to-day by special request.— Ed. Humid.] (From the London Punch. 1 ABRAHAM LINCOLN. FOULLY AWABBIN YTT.D, ON THE 14tII OF APRIL, 1865. You lay it wreath on murdered Lincoln's bier. You, who with mocking pencil wont to trace, Broad for the self-complacent British snee-, Ilia length of shambling limb, bis farrowed face, His gannt, gnarled bands, his unkempt, bristling hair, His garb unronth, bis bearing ill at ease, His lack of all we prize as debonair, (X power or will to shine, of art to please. You. whose smart pen backed up the pencil’e langh. Judging each step, as though the way were plain; Reckless, so it could point its paragraph, Os chief’s perplexity, or people’s pain. Beside this corpse, that bt-ar.i for winding-sheet Tbe stars ana stripes he lived to rear anew, Between the mnurneis at his head and feet, Say, scurrll jester, is there room for you t Yes. he had lived to shame me from my sneer, To lame my pencil, and confute my pen— To make me own this hind of princes peer. This rail splitter a trne-bom king of men. My shallow judgment I had learnt to rue. Noting how to occasion's height he rose. How his quaint wit made home-truth seem more true, How, iron-like, his temper gtew by blows. How humble* yet how hopeful he could be: How in good fortune and in ill the same: Nor bitter in succcs*, nor boastful he, Thli-sty for gold, nor feverish for fame lie Yvent about his work—such work as few Ever had laid on head and heart and hand— As one who knows, where there’s a task to do, Man’s honest will must Heaven's good grace edm mar.rt; Who trusts the strength will with the lSnrden grow, That God makes instruments to work his wul, If but that will we can arrive to know, Nor tamper with the weights of good and HI. So he went forth to battle, on the side • That he felt clear was Liberty’s and Right's, As in his peasant boyhood he had plied His warfare with rude Nature's thwarting mights— The uncleared forest, the unbroken soil, The iron bark that turns the lumberer's axe, 1 - The rapid, that o’erbears the boatman's toil, The prairie, hiding the mazed wanderer's tracks, The ambushed Indian, and the prowling bear— Such were the needs that helped his yonth to train: Rough culture—bat such trees large fruit may bear, If out their stocks be of right girth and grain. So he grew up, a destined work to do. And lived to do it: four long-suffering years, 111-Lite, ill-feeling, ill-report, lived through, And then he heard the hisses change to cheers, The taunts to tribute, the abuse to praise, And took both with the same unwavering mood; Till, as he came on light, from darkling days. And seemed to touch the goal from where he stood, A felon had, between the goal and him. Reached from behind his back, a trigger prest— Aud those perplexed aud patient eyes were dim, Those gaunt, long-laboring limbs were laid to rest! The words of mercy were upon his lips, Forgiveness in his heart and on his pen. When this vile murderer brought sjvift eclipse To thoughts of peace on earth, good-will to men. The Old World and the New, from sea to sea, Utter one voice of sympathy and shame 1 Sore heart, so stopped when it at, last beat high; Sad life, cut short just as its triumph came. A deed accurst I Strokes have been struck before By the assassin’s hand, whereof men doubt If more of horror or disgrace they bore; But thy foul ci ime, like Cain’s, stands darkly out. Vile hand, thatbrandest murder on a strife, Whate’er its grounds, stoutly and nobly striven; And with the martyr’s cfoiyji crowneat a life With much to praise,nitlß% Wfargiyeaj THERE ARE NO DEAD. UV SIR E. B, LYTTOM. * . There is no death I The stars go down To rise upon some fairer shore ; And bright In HeaVen’s jewelled crown They shine for evermore. There is no death I An angel form Walks o’er the earth with silent tread, He bears our»best-loved things away,. And then we call them “dead.” Born into that undying life, They leave us but to come again. With joy we welcome them—the same, Except in sin and paiD. And ever near us, though unseen. The dear immortal spirits tread. For all the boundless Universe Is life—there are no dead. Lieut. Gen. Grant has presented to the Great Northwestern Sanitary Fair at Chic ago, his war horse “Jack.” This is the horse which he has ridden from the time he entered the service as Colonel of the Slat ll liuoiNpegiraent, until lie was made Lieut. General and placed at the head of the armies of the United States. Sen . Grant lias shut up every rum shop iu the District of Columbia, till further notice. Frederick Seward is recovering from the effects of the terrible wounds inflicted on his head by the assassin Payne. His conditio® has been very precarious, hia skull having been badly fractured : but it is now-thoughfr he will get well. • Masc Maretzek, the celebrated Musician and Operatic manager, has gone to Europe to see Meyerbeer's new Opera of l’Africaine, with a view to bringing it out in the country. ‘ He lias already purchased from the composer the right of representing the piece in America before any others; and now goes to procure and forward models of the necessary scenery and dresses. The Round Table, which was one of the* best literary weeklies ever published in thi3 countiy, and which was suspended during the last two years of the war, is to be reviv ed in New York, under the management of its former Editor, Mr. Henry E. Sweetzer. Queen Victoria is at her Scottish summer home, at Balmoral. The Honorable Judge Qatron, 4*ociate Justice of the Supreme Court of the United States, died at his home in Nashville, Tenn , on Tuesday, May 30. • ' • _ * Most of our working and fighting Gene rals are better in the field than on the sihuip. Oh the occasion of Sherman’s late visit to Now York they tried to get a speech out of him, but could only squeejc oilt a dozen words at a time. „ - mwm . * * |L. v ‘ 'it *a J %> .