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N. S. MORSE. ; k strati. What Becomes ok th* Specie. —We are all aware l hat there has been a constant flow of silver !o the countries of the East, but we nev er hear of its returning. This Las been so ev er since history began, and the constant tide of metal that is ever setting In that direction, and what becomes of it, has puzzled more sav- Aim than one. The enormous absorption of silver by tho Eastern Staten of the world is oue of tho mcst remarkable facte in the history of tho precious metals. From the earliest historic times; the East has taken little but silver for its com modities. In the time of Pliny, the exporta tion of precious metals from the West was set down at from $400,000 to $500,000 a year.— The Homans had their chief entrepot for the East in the Island of Teprobena, now called Ceylon ; and they carried on considerable commerce with the Indians, Persians and Ethi opians. Tne shawls and stuffs of the East found their way to Europe long before the time of the' Crusades. The Arabs carried on a a largo and regular trade in those and other Atluutic productions till tiie discovery of the Cape of Good llopo diverted the course of commerce. The establishment of the overland route has operated to some extent in tho other direction; but however, and by whom the trade has been carried on, tho llow of silver has been general ly from the West, toward the East. Humboldt calculated that In the year 1800 the amount of silver sent Eastward annually was between twenty-live aud thirty millions of dollars. Be tween 1850 and 1853, tire large amount of Sycee silver received from China, and the ex port of great quantities of English goods to In dia, disturbed the flow of silver Eastward which has, however, since set in with more de termination than ever, in 1854, the balance in favor of tho East was about thirty millions of dollars, ‘lhe exportation of the precious metals from Great Britain alone, during the seven years ending with 1858, was more than $35,000,000 per annum, of which all but one eighth part was in silver. At tho resent time the balance of the imports and exporta of gold and silver in favor of the East is calculated at from sixty to eighty millions of dollars per an num, or more than the total yield of all the silver mines in the world. The enormous production of gold in Austra lia and California has heretofore enabled the Western nations to part with their silver with out great inoonvenionce, but the present rate ol export of the latter seems to demand some new arrangement, if any bo practicable. Near ly all Orientals are giving to hoarding. It is believed, says M Millaume, the French econo mist, that the Egyptians hide away nearly twenty millions of dollars annually. The Em perors of Morocco hold it a point of honor to till as many chambers as possible with gold and silver. The present Emperor is said to have seventeen, and to have another in course of bring filled. Morocco never parts with the money it. receives ; aud it is said, on tho part of respective witnesses, that morethau $350,- 000,000 are hoarded away in that country, and that the Emperor's treasure is of the valurc of at least $200,000,000. American Finance Abroad. —The Secretary of the Treasury, some time ago, commissioned Mr. Lanier, a prominent New York banker, now ip Europe, to present to the European holders of American securities some infoma tion about the present condition and piospects of our finances. Mr. Lanier called a meeting of United States bondholders in Frankfort. It was largely attended, that place being one of the principal markets in Europe for transac tions in American securities. The views of the New York banker respecting the groat increase In revenue from customs which we are likely to receive during the coming year, in tonse quenco of the re opening of the South to the commerce of the world, do not seem to have received the full assent of. his hearers ; nor were the Frankfort bondholders eutirely con vinced of the expediency of a proposed ex port duty on cotton, &c., by which Mr. Lanier thought that an addition of $('>0,000,000 might be made to the national income ; but, as might be supposed, they were well enough pleased with his prediction that we should soon be able to return to a specie currency. It must bo remembered that the prevailing tendency in Europe is towards the reduction of import dues to the lowest possible figures, and the abolition ol duties on exports alto gether. Whatever may have k been the senti ments of the Frankfort meeting in regard to these matters, the information furnished by Mr. Lanier was of force in giving an impetus to the sales ot American bonds. Immense sums in American securities daily change hands in Frankfort, Amsterdam. Berlin and Hamburg, and of late also iu Loudon and Paris. They are not bought on speculation merely, but as periuauent investments. Great numbers of persons in Europe live on the intetest of small patrimonies, investing fortunes generally in some kind of government bonds. The English. Hutch, Russian and French securities yield only trom three to five and one half per cent, it may readily be believed, then, that United States bonds, bearing interest, at double or neaily double those rates, are largely sought after. This thing augurs well for tho future. If our capitalist, at.home.will not invest in U. S. Bonds, it proves that r market can be found for them elsewhere. We hope however there is patriotism enough in the American people to sustain their own Government and its own credit, without having, to rely upon foreign capital to do it tor them. Important.— A Washington dispatch to the Cincinnati Enquirer, says the President has instructed the United States district attorneys in various parts of the South not to begin any new proceeding under the confiscation laws, as the occasion for such a course has ceased Receipts or Cotton at Savannah.— On Sat urday and Sunday the receipts of cotton by fiats from Augusta were 1803 bales uplands, by steamer 246 upland ; from Darien, by steamer. 1055 do. Total 3109 : Sea Islands, ‘JS bales from Augusta, Darien. 30 upland.— Total 55 ; Domestics, from Augusta, 279 bales. AUGUSTA, GA., WEDNESDAY MORNING. NOVEMBER 1, 1865. A COl TON' OOKOUESS. The proposition to told a Cotton Congress in New York, or elsewhere, to consider the con dition and prospect of the cotton trade, is emi nently worthy the attention and favor of the public. The discussion by well-informed per sons of the condition and prospects of this im portant branch of industry, is a matter of na tional interest. While the new relations upon which cotton has entered is assuming definite shape, it is highly important that it should re ceive an impulse in the right direction from those who are 'qualified to investigate the proper course of action. It is not too much to say that no more important subject can en gage the attention of the mercantile commu nity. Wc trust, therefore, that the proposed Congress will take place at an early date, and that it may he attended by representative per sons capable of throwing light upon the proper mode of culture under the altered relations which it is assuming. Its conclusions, if based upon a proper substratum of facts, could not fail to exercise a healthy influenco upon both Federal and State legislation. in England the Manchester Cotton Associa • tion has exercised an influence that has been felt throughout the civilized world. It has led to the cultivation of cotton in places where it was uuknown until lately, and developed, to a prodigious extent its culture iu regions that formerly yielded only a limited and precari ous supply. The cotton imports to England from India alone is estimated for the current year at 1,500,000 bales, one-half of the yield of the United States in 1860. A large propor tion of this immense import is undoubtedly due to the exertions of the Cotton Supply As sociation, which influenced the Imperial Gov ernment to open roads, construct railways, and adopt other means for the transportation and development of cotton in India. The es timated British imports of cotton for the cur rent year from other places beside the United States is as lollows : Bales. British India 1,500,000 . Egypt 350,000 Chiua 560,000 Brazil 570,000 Mediterranean Basin 100,000 West Indies 100,000 Central and South America 75,000 * Total, 2,055,000 Last year the exports from these places amounted to 2,350,000, so that the above esti mate is by no means exaggerated, and is more likely to be under than over the actual re turns. Even ordinary newspaper readers know that the cultivation of cotton in nearly all these places was directly stimulated by British enterprise and capital. What has been achieved by English influ* #nce iu foreign lands is surely possible to American enterprise, operating in our own country. AfW making due allowance for the disturbing inluences of the changed labor sys tem of tho South, the prospects for increasing, during tho next four years tho suppy of cotton to the average of 1860, are far better than those that existed four yeais ago in the coun tries whence Great Britain is now drawing her chief supplies. Nearly ail tba elements of former prosperity still exists in the South. The only difficulty is to combine and re-nrraDge them, This process can be largely facilitated by intelligent and concentrated effort, which, wouhl undoubtedly receive the energetic co operation of the States and Federal Govern ment. Under ordinary circumstances indus trial and commercial interests may be safely left to the silent operation of the natural laws But this is an exceptional case. The very foundations of society have been broken up in the South, and English experience Bhows that much may be dona by extensive efforts in de veloping the cotton trade in new fields. The whole people of the United States have a mighty interest in tho development and restoration of the cotton trade. The coUou crop of 1859-60 amounted to 5,387,650 bales, valued at the prices then current at $200,000,- 000. The amount of American capital invest ed in cotton manufactures, according to the census of I’SGO, was, in round numbers, SIOO,- 000,WOO, giving employment to 118,920 per sons. The raw material, amounting to a total 1 of $55,000,000, "yielded manufactured goods valued at $115,000,000, boing an increaso of 75 per cent. In 1860-61, our exports, stimu lated by tho prospect of civil war, amounted to about $200,000,000. When we consider the immeuse number of persons, white and black, direcfly concerned in the production, ship ment, and manufacture of cotton, iu the North and South, we can appreciate, in connection with the above figures, the immense impor tance of the trade. Duty 0 p 'the People.— The ensuing session of .Congress is looked to with a great deal of anxiety, as tho speeches of certain leading men at the North recently made, shows that they are bent on mischiet. It remains, there fore, for the truly patriotic and conservative men of the country, South and North, to stand boldly and firmly by the President in his wise and conciliatory administration of the government. Let there be no party, or faction, or clique, but let U3 all rally to the support of the acknowledged defender of the Union and the steadfast upholder of the Constitutional rights of all sections of the land. In sustain ing President Johnson and his policy of re;ccn tructioD, under exieting circumstances, hep the only hope for the early and permanent pacifica tion of tfiecountry and the lasting wellare anu happiness ol the people. The Law on Tseison. —A man must, in due form of law, be tried by a civil court of the United St ites and by that tribunal be found guilty, on the testimony of two witnesses to tho overt act. or by contusion in open court be convicted of the crime of treason against the United States, before his lands can be confisca ted or the titles thereto be made to pass from him without his agreement and consent. Poisoned ey Accident. —We understand that two children of Mr. KUlingsworth, on the Miiledgeville road, three miles from this city, were accidently poisoned on Monday by the administering of strychnine for quinine. One of the children, a boy of about eight or ten years old, died in a few minutes. The other, a babe, still languishes, with little hope of re covery. It seems that this medicine had been in the house for some time, and w wTapped in a paper marked quiniue. The Cubkexct—Paper Monet to be Reduced —The Secretary of the Treasury of the United States made a speech a few nights since at Fort Wayne, Indiana. He said he was one ol those who look upon au irredeemable currency as au evil which circumstances may for a time render a necessity, but which is never to be sustained as a policy. He favored a well se cured convertible paper currency. No other can to any extent be properly substituted for coin. For all ordinary home transactions paper money is sufficient, but there are con stantly recurring periods when balances be tween countries, and, in the United States, between different sections, must be settled in coin. Whenever specie is needed for this pur pose, the paper money should bo convertible and a circulation not so convertible will not be and ought not to be tolerated by the peo ple. The present inconvertible currency of the United States was a necessity of the war, but now the currency should be brought up to a specie standard, and ho s:> v, • way of doing it but jjby.withdrawing _ ;.:u;u cl' it from circulation. The extreme high prices now prevailing in dicate that the business of the country is in an unhealthy condition. We have a circulating medium altogether larger than needed for legi. tirnate business, and the excess is used in spec ulations. The United Slates today is the best market in the woild for foreigners to sell in. Tue consequence is, Europe is selling us more than she buys of us, including our se curities which ought not to go abroad, and there is a debt rolling up against ua which must be settled in part, at least, with coin. It Congress shall, early in the approaching session, authorize the funding of “legal ten- and the work of reduction is commen ced and prudently carried on, we shall reach it, probably, without injury and embarrass ment to legal business. If not, we shall have a biief period of seductive prosperity, result ing iu wide spread bankruptcy and disaster ! The Secretary was hopeful that by wise legis tiou we will escape a financial collapse, and that the currency may be brought to a specie standard; without those financial troubles which have in all countries followed a pro moted and expensive war. The Late Virginia Election. —The late Congressional flections in Virginia have re sulted iu the election of three gentlemen who cannot take the test oath, and five who can take it. It is beyond all question that at least two cannot take that oath, and therefore it will have to be decided whether the oath is to be an effectual barrier in any way of the ad mission to their ipeats of those Representatives who took part wiih their Scabs in their attempt to withdraw from the Union. One of the singular facts of this election is the choice of John Minor Eotts to represent a district ia which he does not reside} nor ever has resided. A New Firm. —With pleasure we call the at tention of our readers k> the card of John H. Mead & Son. These gentlemen have estab lished themselves in the wholesale and retail grocery and commission business, on Mcln tosh street, in the rear of the Georgia Railroad Bank. The senior partner of the house bas been long and favorably known in our midst, and we are quite sure his numerous friends will give hin! a liberal patronage. He richly deserves it. At his old Stand.— lt will be seen from an announcement elsewhere that Summereau is at hit? old stand again with a large t stock of goods in his lino- .Candies and cakes in abun dance, can he found there ; als o every kind of goods usually found in a first class confection ery store. Parties supplied at short notice.— Choice wines and liquors constantly on hand. Revenue Cutter at Savannah. —The revenue cutter Nausemond has arrived at Savannah- She was sent there in accordance with the order of the Secretary of the Treasury, and will be stationed at Savannah for the protec tion of the revenue on the coast cf Georgia and Eastern Florida. HIP" The telegraphic wires bring us the intelligence that the Hon. Alexander H. Stephens had left Washington, where he was very kindly received, for his home in this State, It is needless to say that he will meet with a warm and hearty greeting from his lellow-citizens. The Corn Crof.— From all our exchanges and from ail parts of the country, we receive information that the corn crop of the present season-will be unprecedentedly large. This is a subject on which we hear no complaint from any quarter. Hon. Howell Cobb.— We understand this distinguished gentleman has determined to locate in Macon for the purpose of practicing his profession. His comprehensive ability, force of ch :racter aud influence, will render him quite an acquisition to that city. ■— am Gen Gaktuell. —The friends of this gentle man will be pleased to learn that he has been pardoned by the President. The English Detectives at New York. —A letter to the Philadelphia Ledger speaks thus of the English Detectives which have lately arrived at New Yoik to watch the Fenian movement : The Eexecutive (Committees of several of the most prominent Fenian Clubs ara in secret session, supposed with a view to checkmate the operations cf sundry British detectives, who are said to have arrived here for the pur pose of watching their movements, so far as they contemplate operations in Ireland. Cer tain parties who have recently been initiated into the Clubs arc suspected of being British spies. To eject them and render it more diffi cult for others to practice a like imposition, is an object which every good Fenian says must, EOtnthow, be accomplished. STATE ITEMS.- The Bibb county jail at .Macon was burned Sunday. Lesssß,ooo. No insurance, suppos ed to have been fired by the prisoners r none of which, however, escaped. The stock of the Mobile and Gerard Railroad is selling at Columbus ior twenty-five cents on the dollar. W. E Quiilian hat appointed Postmas ter at Miiitdgeville and entered upon his du ties. Bayard Taylor is now in Kansas on a lectur ing tour. KTA'IK CONVENTION. LIST or DELEGATES. Appling ; Daniel G Hopps, Frederick Doug lass. Baker ; W D Williams, Isaac K Hand. Baldwin ; A H Ktnan, B B DeGraffenreid. Banks ; Wm Turk, J L Jordan. Bibb ; G M Logan. T G Holt, C R Cole. Brooks ; W H Tharp, Wm Hudson. Berrien ; H E Smith. Bryan ; H L Smith, S F Williams. Builock ; R Mcßone, S Brewster. Butts ; John Barnett. L D Watson. Burke ; Malcolm Jones, R T Jones, E T Lawson Campbell ; W A Turner, S G Johnson. Cass ; J R Parrott, J R Wikle, Nathan How ard. Calhoun ; Geo W Cauley, Henry Hays. Carroll ; E B Martin, W w Merroll, Charles Walker. Catooßa ; Edward Fowler, Wm Hemy. Chatham ; Solomon Cohen, Thos E Lloyd, Edward C Anderson. Chattahoochee ; DII Burts, Wm Bagley. Chattooga; J O Scott, and a tie between Wesley Shropshire and McWhorter. Cherokee; Jas O Dodd, W C Puckett, J E Covington. Clay ; R A Turnipseed, A D Womack. Clayton ; J C Eilingtou, A L Huie. Clark ; YL G Harris, J H Christy, J C Johnson. Cobb ; A J Hansell, D Irwin, Wm Ander • son. Colquitt; B C Watkins, F Clark. Columbia ; James Jones, C IlJSheckly V M Barnes. Coweta ; W W Thomas, W F Wright, J E Smith. Crawford ; J T Simmons, A W Gibson. Dade ; J W Curvetcn, E D Graham, Dawson ; A J Logan, D P Monroe. DeKalb ; H T Wootten, M A Candler. Dougherty ; G V Wright, Henry Morgan, larly ; B H Robinson, Joel W Perry. Effingham ; M Rawles, J G Morrill. Elbert; W H Adams, J S Lamar: Fayette ; John Huie, P H Braaswell. Floyd ; R D Harvey, Robt £1 More, T J Davis. Forsyth ; W H Bell, Clements. Franklin ; N Gunnels, J M Freeman. Fulton ; N J Hammond, J I Whitaker, Geo. W Adair. Gilmer ; B R Quillian, Sam'l Ralston. Glynn ; James Ocoper,. Verbenas Dart Gordon ; G M Thompson, James Harland, James Rogers. Green ; Y P King, N W Lewis, N M Craw ford. Gwinnett; R D Winn, J P Simmons, J W Baxter. Habersham ; Phillip Martin, Wm Grant. Hall; J N Dorsey, D Welchel, S C Fraser. Hancock; S Lawrence, C W Dußose, D Harris. Harris; E C Hood, H D Williams, A \V Redding. Hart; Wm Bowers, Thornton. Heard ; W M K Wattsf B D Johnson. Henry ; E B Arnold, John Hail, C T Zachry. Houston ; Eli Warren, Jolm M Giles, Chas T Goede. Irwin ; John B Dormany, Jacob Young. Jaclsson ; W S Thompson, J B S Davis, W L Marler. Jasper ; Henry Glover, Wm F Jordan. Jefferson ; H V Johnson, George Stapleton. Johnson ; Jero Parker, Noah Tison. Jones ; Jas H Blount, D Ridley. Laurens ; Nathan Tucker, Rob* Rbbinson, Lae ; George Kimbrough, Wm Newsom. Liberty ; John B Mallard, H F Horne. * Lincoln ; J W Barksdale, John Dunn. Lumpkin ; Wierd Boyd. H W lli'ey. Macon ; Phil Cook, L M Felton. Madison ; G Walsh, Dudley Chandler. Marion ; M L Bivins, G W McDuffie. Merriwetber ; O Warner, J L Dixon, T M Brantly. Muler ; Isaac Bush, Isaac E Bower. Milton ; O P Skeleton, Wm Rogers. Mitchell; Israel Maples. J A McGregor. Monroe; E G Cabaniss, Wm M Murphy, John Shannon. Morgan ; Joshua Hill, Thomas J Saffold. Murray ; W Luffman, B F Parker. Muscogee ; W Williams, A H Chappell, Hines Holt. Newton ; P Reynolds, J J Floyd, J A Stew- Oglethorpe ; W Willingham, W B Bright well, J D Matthews. Paulding ; S L Strickland, J H Weaver. Pickens ; Slome Goede, R B McCutchelL Pike ; W D Alexander, Giles Driver. Poik ; J A Blance, Joel Brewer. Pulaski ; I L Warren, Normon McDuffie. Putnam ; D R Adams, R C Humber. Quitman ; J T Turner, B H Rice. Rabun ; G J King, G M Nether'and. Randolph ; Morgan Calloway, L C Sale. Richmond ; C J JeDkins, John P King, A C Walker. Schley ; C B Hudson, J C Lasseter. Striven ; Geo R Biack, R W Lovett. Spalding ; L T Doyal, D H Johnson. Stewart ; E F Kirksey, J L Wimberlv, M Gillis. Sumter ; ASCutts, W W Barlow, W Brady. Talbot ; M Bethune, Wm Holmes, Z B Trice. Taliaferro ; J A Stephens, Singleton and Harvis. Taylor ; A H Riley, E Q C McCrarv. Terrell ; C B Wooten, D A Cochran. Thomas-; J L Bewaid, J R Alexander, A T Mclntyre. ,f._Troup ; J S Hill, RAT Ridley, N L Atkin son. Twiggs ; Ira E Dupree, Lewis Solomon. Upson ; Joel Matthews, O C Sharman, Walker ; Lawson Black, T E Patton, T Parker. Walton ; H D McDaniel, J B Sorrells, J W Arnold. Warren ; J M Roberts, N C Bacon. Washington ; J S Hook, L C Matthews, D E Cumming. Webster ; Sampson Bell, C B Moore. White ; A F Underwood, Isaac B Oakes. Whitfield ; J F B Jackson, J M Richardson, 1) Talliaferro. Wilcox ; Stephen Bowen, D Johnson. Wilkes ; G G Norman, W M Reese. Wilkinson ; J T Hudson, R J Cochran. Worth—Wm A Harris, Jas M Rouse. * The Next Cotton Crop —lt is all impoitant to the South, as well as to the balance of the world that the next cotton crop should be a large one. If the ’laborers we have in our midst will not work, means should at once be takes to obtain help, which will. Every one who has any interest in the welfare of the South should awake to the importance of hav ing oar now almost uncultivated fields once more covered with the productions of the soil The Louisville Journal speaks thus in regard to the next cotton crop : The present crop in the louth will amount to little ; but next year a great effort ought to be made to .raise a large crop. Prices for a vear or two to come, at least, are likely to rule high, probablv not much less than forty cents. Now, if four million bales could be raised during 1866 it would amount at that price to the enormous sum of six hundred and forty million dollars, or about one fourth of our national debt. This simple statement is suffi cient to show cf what importance a great crop of cotton next year will be both to the in dividual wealth of the country and to the gov ernment in the payment of the national debt. Such a crop would send new life and activity through every channel of business from the Atlantic to the Pacific Ocean. The revenues of i government would be of course corres- Ipondingly increased and the burdens lifted from the shoulders of the people. Great Floods in India-Nearly 900 Houses Destroyed. —The Kotree correspondent of the Scindian gives the following account of a. dis astrous storm which visited Hyderabad on tho 7th of August : On Saturday morning the heavens appeared covered with deep, dense c'ouds. and exhibit ed signs of rain ; but as the weather had been of late so uncertain, no rtliauce could be plac ed in them. As the day advanced, however, fierce gusts of wind burst forth and at inter vals", while the firmament became by degrees over-cast and dark. A short while after it com menced driving ; this continued for some time, and toward-evening, a smart shower fol lowed. The rain, though thin and steady, seemed dangerous for the houses, built as they are of sunburned bricks,, flat-roofed, and oth erwise of a week stiucture. It continued to pour down incessantly during tho -whole ol Saturday night, without, however, creating any very great alarm among the people, though many of them suffered a great deal from leak age aid other inconvenhnees. But there was neither thunder nor lightniug. The following morning (Sunday), as the rain did not cease, it was evident that some serious crisis was at hand ; ere tho day advanced high, the rainwater rose everywhere to two, ttoee and, in seme places, five leet high, rendering every street and lane impassable. This water, as misfortune would have it, mingled with the rushes of the hill torents, and, both com bined, not finding a proper passage to the riv er, flooded the whole station, and committed a dismal work of desolation. ’ While the rain was continuing to beat violently against the roofs and walls of the houses, and tho flood cutting away their base, house after house tumbled down, and, in the course of about three hours, hundreds of them were converted into heaps of ruins. The consternation and confusion among the whole of tho inhabitants may be better imag ined then described. Men, women and children, terrear-stricken, were scattered over the place, aud rushing iu every direction in quest ol shelter. A greater number of them flocked to the Dhurrumsalia, where they were crammed to suffocation. Iu another account it is stated that nearly nine hundred houses weiy destroyed, but, strange to say, only one life was lost. There is not a single building in the whole place that has not suffered some damage, either from rain or flood. The loss of property and houses is estimated at about two lacs of rupees. The Great Steam Hammer.- -A Ltmdbn .pa per describes an immense steam ljammer ;now being made by Messrs. Nasmytl**ik ■QS* of Paticroft. It is of gigantic proportions, and will strike a blow equal to seventy five tons. This of course will require an immense anvil block, and the process of casting one tot it weighing two hundred tons, was a work of un usual interest. The process of manufacture was as follows : The iron was melted in two large patent upper tupcrß cupola furnaces, twenty-four feet in height and seven feet in diameter. The molten metal was run into a mould in a con stant stream, supplied alternately from each furnace. The process occupied ten hours. The metal was kept in a state of fusion by means of burning charcoal until the whole quantity is poured to. The anvil block measures twelve feet square at the base, and twelve feet six inches in depth. The figure is pyiamidical, and it is cast base upward. The metal contains a cer tain proportion of Bessemer' still. The huge castings is not likely to be perfectly cold at three months hence, and it will certainly not be reduced to sufficiently low temperature to be dealt with under two months When cold, it will be turned over. The bed for the re ception of the block will ns enclosed in a large circular wrought iron cylinder measuring twenty feet in depth and eighteen feet in di ameter. This will bo snnk in the giound and filled with concrete, and, when finally de posited in its bed, the anvii will appear about wo feet six inches aboie the ground. The Pacific Railroad. —This great enter prise is not dropped,-though, owing to the greater importance of matters near at hand, we hear less of it than woi&l otherwise be the case. Engineers are at work on the Pacific end, as well as on the route from Nevada east ward, and it is announced that their efforts to discover a practicable opening through the Sierra Nevada mouutains have been finally crowned with success. This location was all that remained before a very energetic move ment began in California. The Sierra Nevada stretches along the east-era boundary of the State, between California and Nevada, from Tulare county to Oregon. Its Southern ex tension runs into the coast range. The Sierra is lofty, lagged and inhospitable, with few passes available for railway use. The engineers now announce, however, that they have dis covered a spot where they can construct a road from the summit of the mountains to tho Tucker river, on a grade not exceeding ninety feet per mile. The most sanguine had expect ed one hundred and five feet. This discovery will be felt by the enterprise in a favorable manner, and will tend to make the construc tion earlier as well as easier. The opening leads-naturally to Sait Lake city, which was a way station on the route originally proposed, as it is for the mail road to-day. . Those who have an interest in, this gigantic undertaking, which daily seems to assume new strength and more substance, will be glad to learn that so many months of explora tion in an uncongenial region have been crowned with success, and that the grade is so much less than was expected. The difficulties to be encountered in the range threading Utah and Colorado are far inferior to those in the Sierra Nevada ; and from Utah (he woik of construction is comparatively easy. It ia probable that tho discovery just made will give new life to the undertaking, and that an effort which is encouraged by both extremes of the country, and felt to be - of paramount im portance by all, will now be pushed more en ergetically. When we connect what has been done in California, with what is done and be ing done from the banks of the Mississippi westward, we have reasons for believing that, vast as the effort is, it may yield before vigor and energy, and that we may soon hear of the more active progress of the greatest engineer ing "work of the ag o.—Philadelphia Amtrican. The President and State War Debts.— The annexed dispatch from President Johnson shows his position on State War debts : To W. W. Rolden, Provisional Governor of North i.Airollna : Every dollar of the State debt created to aid the rebellion against the United States should be repudiated finally and forever. The great mass of the people should not be taxed to pay a debt to aid in carrying on a rebellion which this neglect, if not to themselves, were op posed to let those who have given their names for the obligation of the State, lost to that power they tried to establish in violation of law, Constitution, and tho will of tho people. They must meet their fate. I: is a misfortune and can’t be recognized by the people of any State professing themselves to be loyal to the Government of the United State and the Un ion. I repeat that the loyal people of North Carolina should be exhonorated from the pay ment of every dollar of indebtedness caused to aid-in carrying on tho rebellion. I trust and hope the people of North Carolina will wash their hands of every thing that partook in the slightest degree of the rebellion which has so recently been crushed by the strong arm of.the Government in carrying out tne obligations 1 imposed by the Constitution of the Union. Andrew Johnson, President of the United States, VOL. LXXIV.-—NE\ •**t Sew ■ Secretary Sewvrd citizens of Aubu ' synopsis of it as After congratm* >e return of peace saying that on was necessary arhe on behalf hesitating L>or slave-uolder practice though o'.. \ V?. o n( j yet j n principle and assoc v a a Deoj 0c at, An drew Johnson, with the efinsent of ft. whole American Deople, assumed thesheat Mponsi bility of Lincoln, n jounced that slavery should be treat* a a public enemy. Andrew Johnson end.. the an nouncement. The attempted revolution cul minaied when our National banner was suc cessfully replanted in Tenne-see. From that finm, though it was necessary to prosecute the war with such energy as human nature never before exerted, ft was equally needful to prosecute the beneficent work of restoring the Union, the of slavery was thenceforth equally an element of per sisten| war and of returning peace. Andrew Jonnson was fitly appointed the first of the Provisional Governors for the prosecution of these double purposes of war and peace, and was subsequently elect* and Vice President, in the end constitutionally inaugurated President of the United States. Wj are continually hearing debates concerning the order aud authority of the plan of restoration. New con verts North and South call it the President’s plan ; all speak of it as if it were anew and recent development ; ou the contrary, we now see that it is not specially Andrew Johnson’s plans; not,even a.new plan in any respect. It is the plan whiefe abruptly yet distincly of fered to the last admifiistration at the moment when the work of restoration was to begin. It is essential that ttfc insurrectionary States shall accept this plan. This is what I meant when I said to Mr. Adams, that in the sense in which the word subjugated was used by our enemies it was not the expectation or purpote of this Government that the Southern States should be subjugated, but by the plan adopted they would be brought to a voluntary return to their allegiance. He spoke of the American Uuio* as a system which the States were at tacked as limbs, and said if a limb be broken oft it must be restored to soundness before due constitutional health and vigor can be brought back to the whole system ; if a limb offend we can cut it off and cast it away, but by doing so would be doing what other nations less wise than ourselves, have dono that have submitted unnecessarily to amputation, and given us a material portion of their strength to save them selves from apprehended distraction. Ho argited that-the reconciliation adopted so promptly was the most wise course to pursue. The plan, he said, gives us two great national advances iu thoprogiess of moral and political elevation, which are now to be made fast and firmly fixed. First, it secures voluntaiy abolishment of slavery by the insurrectionary States ; and secondly, an effectual adoption by the late slave States themselves of the amendment to the Federal .Constitution, prohibiting slavery forever in any part of lhe United States. To has tin tfc.is woik of reconstruction, he argued, in the language of the President, that we must trust each other as to fears ol too much lenien cy on the part cf the President. He said, ex cept those who have maimed and bereaved, none had suffered more of wroDg, insult and violence at the hands of the leaders of the re bellion than the President., and cannot we for get where he can forgive ? His terms of am nesty are far more rigorous than those offered by Abraham Ltocoln. Mr. S guaranteed fidelity and faithfulness on the part of Andrew Johnson. He had never in his life met an an more free from per sonal caprice and selfish ambiticn, none more purely and exclusively moved in public action by love of counfry. Mr. Sewa’d then passed in review the different members of the Cabinet since the first inauguration of Lincoln, speak ing highly of them all. Concerning foreign nations, he said he was permitted to say, in general terms, we Lave claims on foreign na tions for injuries to the United States and. her citizeqs, and other nations have pretended claims against this Government to them or their subjects. He believed tho President would conduct affairs in such manner as to yield or recovei imdemnities justly due with out any compicmise of national dignity or honor. With whatever jealousy we may adhers to our of avoiding entangling alliances with foreign cations, we must con tinue to exercise a just and beneficial influence ia.the international conduct of foreign States, endeared to us by their adoption of republican institutions. He was sure the President had not lost sight of this important interest, and he expected to soe republican institutions when ever they have been heretofore established throughout the American continents speedily vindicated, renewed and revigorated. Vast Steel Manufactory.— The establish ment of F. Krupp, of Essen, is we’l known as the largest steel manufactory in Europe, and it may be said in the world , notwithstanding the ms.gnitude of the Sheffield establishments. The extent of the works ia 301 acres, and the length of the railways for iuterior communica tion about twelve and a half English miles, on which four locomotives and one hundred and fifty wagons are in constant use. The build ings cover an area of 46 acres. There is a gas work, and a bakery, and cooking establish ments for the unmarried men. In 1864 in the steel works, exclusive of the coiicries and blrst furnaces, which are situated in Tayn, there were 6.600 workmen. In the same year there were in operation 350 srneltiog, heating, and puddling furnaces, 136 steam engines from 4 to 1,000 horse power. 34 steam Lapomers- from 1 ton to 150 tons, 110 smithies, 508 turning and other machines The production of 1864 was 27,000 ions of cast-steel, in gun3, axles, tyrep, springs, rails,(boiler-plates, rollers, etc. The productions are sent to every quarter, but chiefly to England, Germany, France, Russia, United States, and India. Tn may, 1865, the establishment employed 8,000 workmen, and produceion has increased po enormously that it will be over 50,000 tom? /or the year. Ac COTding to the London Star, arrangements which have been for »< me t ime in progress ‘or the organization in England of a great steel woik in Styria to supply the Austrian empire are now in course cf completion ; and from tbe success of Mr. Krupp’e establishment in Piussia, there can be little doubt in Austria, whore the very best iron in the world for steel making cm be obtained, a similar undertaking would be successful and very p.otitable. Josh Billings on Hens —Josh Billings talks learnedly ps follows : “The best time tew sett a hen iz when the hen iz ready. I kant tell you what the best breed iz. but the shang high iz the meanest It host az much to board c-e az it dez a stage hossj and might az well undertake to fat a fanning mill by running oats thru it. There aint no profit in keepin a hen for his eggs if he laz 3 less than one a day. Hens ar very long lived, if tha dent contract the throat disseaze; there iz a great many goes to pot by this melankolly and sease. I kant tell exactly how tew pick out a good hen, but az a genera- thing the long eared ones, I kno. are the least apt to soiatch up the garden. Eggs packed in equal parts of salt and lime water, with the other end down, will keep Irom 30 tew 40 yearß, if tha-ar not disturbed. Fresh beefstake is good fur hens; I seipose 4 or 5 pounds a day would be awl a ben would need, at first along. I shall be happee tew advise with you, at enny time, on the hen question— and take it in eggs.” During the month of September, 552 patents were issued. . XXIV NO. 44. -i NEWS SUMMARY. Brougham is on his way tc this country rope. hh extensivo fire has been raging in Dismal j bruanip lately, aud it is probable that thous j ancs o f acres will be burnt over. TLo population of Lowell, Mass., is supposed i<? have increased 6,500 since the first of May. ~ Very richi veins of gold have recently been discovered in Minnesota, near Lake Superior. lhe Atlanta Intelligencer thinks from the natu.e of the country, that petroleum could be found at the foot of Lookout Mountain. A farm is to he selected somewhere in the region of Jacksonville and sot apart as a home for the aged, Infirm and destitute of the freed people. , ' Major Gen. Foster has gone on a tour of in spection through Eastern Florida. He will probably visit also Pensacola and Key West. During the recent great fire among the oil wella al Pike Hole City, in Pennsylvania, the speculators gathered, and instead ol rushing frantically to and fro, in the agony of despair, commenced indulging in their favorite busi ness, and before day dawned, a vast number of “sixteenths” had changed hands. The new House of Representatives in the Pennsylvania Legislature will consist of sixty four Republicans and thirty-six Democrats. Os the eleven Senators elected, seven are Repub licans and four Democrats. The Republicans will have thirty-six majority on joint ballot. It is thought that in consideration of the plea of guilty entered by young Keichum, he will be sent to the penitentiary fer two years and a halt. A correspondent says the corn and cotton crops ot Miss’ssippi are a failure, and tho State will have to draw ration*, * from other States. The small pox is quite prevalent at Mont gomery, Alabama. Hon James E. Saunders, of Lawrence, de clines being a candidate for Governor of Ala bama. Hon. R. W. Smith, of Tuscaloosa, has announced himself as a candidate for the office. Three candidates ar» now in tho field. What little crop was planted iff West Ten nessee is turning out well. Col Venable, Gen, Lse’s aid-de-camp, has been elected professor of Chemistry in the Louisiana State Military Academy. Lieut. W. F. Lynch, formerly of the United States Navy, and commander of the Dead Sea expedition, died in Baltimore October 17, iu his 64th year. At the outbreak of the war he resigned his commission, removed to the South, and was made a Commodore in the Confeder ate navy. He was a native of Norfolk, Va Berstadt’s famous picture of the Rocky Mountains have been purchased by Mr. Mc- Henry, ono of the English capitalists now in this country, for $25,000. The largest steamboat in.tho world will soon be sfloat upon the North River, N. Y. A gratifying report is made by Gen. Fisk, the Commissioner of freedmen for Kentucky und Tennessee, who states that he has been successful in drawing hundreds of freedmen from the cities to good places in the country, thereby dispensing with the necessity for thir teen large negro camps and hospitals, which were carried on at the expense of the govern ment. There are exciting times in the Tennessee Legislature on the negro franchise question. Lieut. Maury has received from the Emperor Maximilian papers of naturalizition. He is, therefore, now a Mexican citizen. The Croton reservoirs, which supply New York city are still full, despite tho long drought. A number of the friends of Dr. O. A. Brownson have presented him with a life an nuity of one thousand dollcis per annum. The practice of appropriating other peoples’ horses in East Tennessee, without leave still continues. The black laboreis in Lower Maryland in most cases, are workiDg well. The plan of extending the Harlem Railroad northwards from Ch-thhm, New York to Ben ?ington, Vt., so as to connect with the Western ermont road and form a straight line from New York to Montreal, is likely to be „carried out. It is stated that $1,300,000 of the capital stock of $1,800,000 has already been subscribed Coimnodore Vanderbilt having taken SSJO.- 000, and Mr. Parr, of Bennington, Vt, $200,000. Humphrey Marshall is in New Orleans prac ticing law A terrible affray occurred on election day at Madison precinct, Fremont counly, lowa, in which William Blue wa6 stabbed iu the abdo men, and Jack Blue shot in the spine. One man, by the name of Hale, received five stabs and a shot in the back Another min of tho same name was knocked down and severely injured, a man badly stabbed, and several others more or lees injured. None of the in jured are dead, but all are in a critical condi tion. The quarrel was not a political one, but resulted from an old famiiy^grudge. At the Democratic Ratification Meeting in New York city October 18, speeches were de livered by Gen Slocum, Montgomery Blair, and John Van Buren. President Johnson’s reconstruction policy was endorsed. Nogro suffrage was denounced, and the necessity of enforcing the Monroe doctrine in regard to Mexico was maintained. Tbe first cotton manufacturing company Or ganized on the Pacific coast, have commenced operating a mill in San Francisco with a paid capital of SIOO,OOO. They will begin manu facturing in November, with thirty two looms, employing 300 operatives. They will manufac ture drills and standard bheetings. Raw cot ton to supply mills will come from Mexico at present, but experiments now being tried, justify the hope that the article may be raised cheaper in California. The assessment of the real and personal pro perty of Chicago has just been published. The total amount is $64.703 600, of which $44,- 058,922 is real and $20,644,678 personal. In 1864 the total valuation was $48,732,782. Tho Commissioners on their way to treat with the Indians at Fort Sully, reached Crow Creek on the 4th inst. Delegations from vari ous tribes were on their way there and could remain but a short time on account of the scarcity of food among their people. About a year a .d# Half ago, Mr. Alexander of Kentucky, sold his colt Norfolk for fifteen thousand and one hundred dollars. The colt was taken to Colifoinia, and has recently beaten the famous hoise Lodi. He mado two miles in three minutes and thirty seconds, the fastest time on recond for that distance. The Leavenworth, Kansas, Journal learnß that the party sent out to explore the Smoky Hill rout discovered a-veiu of coal along the Smoky Hill seven feet thick, extending for sixty-five or seventy miles. The supply to all appearances Is inexhaustible There are also acres upon acres of iron ore. The mineral wealth of the extreme western part of the State is of immense value. The valleys are rich and productive and capable of sustaining a dense population. Trains are now running from Philadelphia to Lycchbuig. without change of cars, a feat never accomplished before the war. Hon. Robt. M Patten, of Lauderdale, is tho prominent candidate for Governor of Alabama The import entries of the week ending October 7, at New York, % including the dry goods return in our last paper, amount to $4,- 288, 947, as against the total entries of $3,- 247,663 same week last year. The export clearances of domestic produce amount to $2.- 418,527, against $3,622 350 same week last year The export of specie amounts to $316,- 092. against $287,758 same week last year— The customs for tee week are $3,690,916. — The receipts of cotton, coastwise aDd by rail road, are 22,866 bales. The number of emi grant passengers arrived during the week is 6,182 John Minor Botta has been nominated for i Congress in the Lynchburg, Virginia, District, I in place of an ineligible candidate.