THE DAILY EVENING TELEGRAm. miLADELPIIIA, FRIDAY, JANUARY 12, I860. lOcmlitwcd from the First rage. hj tnem, the said ths Atlantlo and Great Western Kallway Company, at any point east (if the Dela. 'war river, npon any railrond now or hereafter fcnilt, owned, leaned or controlled by them, thesald the Atlantic and Great Western Hallway Company, nnd destined westwardly from said Morris and Jwi Junction, to or beyond any point npon any rf the railroads now owned, leased or controlled, or hereafter to be built, owned, leased or controlled by any ot the parties to this agreement. Third. That from and after the execution, and during the con tin nance of this agreement, the party cf the second part will deliver to the parties of the Urst part, or such of them as the said the Atlantlo and Great Western Kailway Company may deal, hate, at Catawissa Junction, both frelRbt and pas. Bengers, (the lines or avenues of transportation for Which tbey the party of the second part may have the legal power to select or control,) received by mem, me faia puny 01 nrvu.. , , nnfnt a, ft lit nf uatawissa uj-uu uj vi several railroads now owned, leased, or controlled, or hereafter to be built, owned, leased, or con trolled by tbem, the party of the second part, and destined westwardly from said Catawissa Junc tion to or beyond any point npon any of the seve ral railroads now owned, leased, or controlled, or hereafter to be built, owned, leased or controlled, toy the parties of the first part, or either of them. Fourth. That upon and after the completion of the extension of the East Pennsylvania Railroad from Allentown to the Delaware river, and Its connection at said rfver with the Morris and Essex Hal I road, and during the continuance of this agree ment, the parties of the second and third parts will delrver to the Atlantic and Great Western Kail way Vompany, at said Morris and Essex Junction, both Ireight and passengers (the lines or avenues of transportation for which they, the parties of the econd or third parts, may have the legal power to elect or control ) received by them, the said parlies of the second and third parts, at any point upon any of the several railroads now owned, leased or controlled, or hereafter to be built, owned, leased or controlled by the parties of the second or third parts, nnd destined eaBtwardly from said Morris nnd Essex Junction to or beyond any point npon any railroad now or hereafter to be bnilt., owned, leased or controlled by the said the Atlantic and Great Western Knilway Company. Filth. The said freight and passengers to be de. livered at Catawissa Junction, and at Morris and I'.Hgex Junction, under articles first, second, third, and fourth of this agreement, shall be received by the several parties to whom they are to be de livered, and be transported with all due diligence places of destination as follows, viz: eastward I y irom Morris and Essex Junction and westwardly Irom Catawissa Junction by the several parties of the first part, and westwardly from Morris and .Essex Junction and eastwardly from Cntawlssa Junction by the parties of the third and second parts, respectively, over their several roads, or exclusively by the party of the second part, as the latter may determine; and over such of the several railroads now or hereafter to be built, owned, leased or controlled, by the party of the second liart, and over so much of the East Pennsylvania Kail road as the party of the second part may lrom lime to time select and determine. Sixth. The rates of toll and transportation Upon all ireight except anthracite coal Shipped from the city of Philadelphia, or from any point more than sixty miles distant from Cnta wlssa Junction upon any of the railroads now ot hereafter built, owned, leased, or controlled toy the parties of the second or third parts, and consigned westwardly to or beyond any i ointmore than sixty miles distant from Catawldsa Junction upon any of the railroads now or hereafter built, owned leased, or controlled by the parties of the lirst part, or either of them, shall be fixed and determined by the party of the second part. And the rates of toll and transportation upon all passengers and all other freight, except anthracite coal, passing CatawlsBa Junction eastwardly or westwardly between any point more than sixty miles west of Catawissa Junction upon the several railroads now or hereafter to be built, owned, leased or controlled by the parties of the tlrit part, or either ot them, and any point more than sixty miles distant from Catawissa Junction, npon the several roads now or hereafter to be built, owned, leased or controlled by the parties of the second and third parts (the distance In all cases to be aneasured along the lines of the several railroads) shall be fixed and determined by the Atlantic nnd Great Western Railway Company. Provided, however, That the rate per mile npon all such freight and passengers to and from the city of Philadelphia, and to and from all points over sixty miles from Catawissa Junction aforesaid, upon the several railroads now or hereafter built, owned, leased or controlled by the parties of the second or third parts, shall at no time and In no eveut tie higher than the rate per mile then charged toetween the city of New York and the same point upon any of the roads of the parties of the first vart. to or from which such freight or passengers may be consigned; the true intent and meaning of this agreement being to give to me city 01 rnua delphia and the several points more than sixty miles distant from Ciltawissa Junction, upon the railroads of the parties of the second and third parts, at all times the advantages of the lowest and most favorable rates of transportation and passage to and lrom any point more than sixty milts west of Catawissa Junction aforesaid, and to prevent any discrimination In favor of the city Cf New York or any other point whatever. Seventh. Each of the companies, parties to this agreement, shall have the right to tlx the rates of toll and transportation upon their own roads upon all passengers and all Ireight except anthracite coal passing Catawissa Junction east ward I v or westward) v. and consigned to or shipped from any point within sixty miles of Ca tawissa Junction (the distunce to be measured along the lines of railroad) Provided, however, that if any such passengers or freight shall be transported by either or any of the parties to this agreement, to or from any point more than sixty miles distant from Catawissa Junction, (the dis tance to be measured along the railroads as afore said,) the rate per mile between such point and Catawissa Junction shall not be higher than then charged by such company or companies between the city of New York and the most distant point therefrom to or from which such freight or pas-, sengero bo transported, over sixty miles as afore said, shall be consigned or shipped. Eighth. Each of the parties to this agreement shall have the right to Hx the rates for toll and transportation upon their own roads, on all an thracite coal passing over the same. Provided, That the Atlantic and Great Western Railway Company shall not furnish nor pay others for furnishing cars or any other facilities to be used or employed upon any railroads other than those of the parties of the second and third parts, for the transportation of anthracite coal from the Middle Coal Field of Pennsylvania. Ninth. The Atlantic and Great Western Rail way Company shall at all times traueportover the Morris and Essex Railroad all anthracite coal re ceived from the railroads of the parties of the second or third parts at as low and favorable rate per mile for toll and transportation as charged upon any anthracite coal received from any other source whatever. Tenth. All freight and passengers passing Oata. Wissa Junction eastwardly or westwardly between any point more than sixty miles west of Catawissa Junction, npon any of the railroads now or here after to be built, owned, leased or controlled by the parties of the first part, or either of them, and any point more than sixty miles distant from Cata wissa Junction upon any of the railroads now or hereafter .to be built, owned, leased or con trolled by the parlies of the second and third parts, or either of them, the rates of toll and transportation npon which are to be fixed and determined by the Philadelphia and Read ing Railroad Company, and the Atlantic and J i eat Western Ruilway Company, under article sixth of this agreement, shall be carried at a pro Tate by all of the companies parties to this agree ment who may transport the same; that is to say, that each company shall receive the same sum per ton per mile fur freight, and per mile for passen ger, for each mile of the actual distance which any such freight aud passengers may have been trans ported by each, without any charge to be made by either for any terminal, yard, warehouse, adver tising, runners, or other extra expenses whatever. Eleventh All charges and expenses for receiv ing, delivering and transhipping ireight and pas sengers, all depot, office, yard, warehouse, adver tising, (except as hereinafter provided.) runners, agents and other extra expenses, and all loss. damages and accidents, shall be paid and sustain ed by the company upon whose railroads they are incurred. Twelfth. All advertising In the city of Pbiladel pbia and upon the lines ot railroads of the parties OI me Becoua aim intra puns buhii dm imiu tor oy the names of the .second and third part, and ail other advertising shall be paid for by the parties of the first part. And It Is distinctly understood and agreed that In all such advertising, the rates, facili ties and advantages of the line to Philadelphia, via the Philadelphia and Reading Railroad, ihall be as fully nnd completely Bet forth as ihtfce of the line to'New York. Thirteenth. All sidings and buildings required at Catawisssu Jnction shall be furnished in euual proportions by the parties of ths first part (or any or them), end the party 01 me seuouu part, una an idiuEH and buildings required at Morris and Es sex junction, shall be furnished in equal propor tions bv the Atlantic aud Great Western Railway Company and thu East Peunsylvauia Railroad Cimpauy. Fourteenth, freight, pansenger, mall, express. and baggage cars for the through trade, and to run upon any or all the lines of railroad, shall be fur nished by all of the companies . parties tJ this agreement In proportion to the distances run by such cars upon the railroads of each; If either should furnish them for a longer distance, or fur nish a greater number than their proportion, such company shall receive lrom the others, or from the debtor company, compensation at the usual and customary rates for car service. And it Is distinctly understood that the several parties of the first part shall at all times furnish car facili ties lor the line to Philadelphia, via the Philadel. rbiaand Reading Railroad, equal to those furnish ed for the line to the city of New York. Fifteenth. If the interchange of freight and pas sengers should (for any cause agreed upon by the parties to mis agreement) not take place exactly ai Catawissa, or Morris and Essex Junction, bnt at some other point or points near to the same, this agreement shall apply with like effect as if such points were specified and named, insiean 01 uata wissa and Moiris and Ensex Junctions respect ively. Provided, however, that if either of the parties to this agreement. In order to reach such point, should transport upon the railroads of an other party, such party so transporting shall re. ceive for so doing one half of the gross receipts for. the distance so transported upon another's line. Sixteenth. The party of the second part shall erect, furnish and maintain, good and commodious freight and passenger depot buildings inineciiy of Philadelphia, to accommodate the freight and passenger business upon the through line of rail road hereby formed. Seventeenth. No charge shall be made by either of the parties to this agreement for returningempty cars, which have been transported loaded over the tame roads, or for transporting empty cars which are intended to be returned loaded over the same roads. Eighteenth. Each of the companies parties to this agreement, shall keep the cars of all the par ties well oiled npon their own roads, and all cars belonging to any company, parties to this agree ment, which may be injured or destroyed by acci dents npon any of the railroads of the parties to this agreement, shall be repaired and rebuilt by the company upon whose roads they shall be so Injur ed or destroyed. Nineteenth. All accounts for freigh shall be made up and settled between the parties daily; all other accounts shall be settled and adjusted monthly. Twentieth. The parties of the first part hereby covenant ana agree to ana with the parlies or the second and third parts, that they, the said parties of the first part, or any of them, will not, during the continuance of this agreement, adopt, Ax, es tablish, be parties to, or participate In any lower or more favorable rate per mile for toll and trans portation upon freight and passengers, the lines or avenues of transportation for which they may have power to selector control, between any point npon any 01 the several roads now or hereafter built, owned, leased or controlled by the parties of the first part, or either of them, and the city of Philadelphia, the city or TNew York, or any point upon any of the several railroads now or hereafter built, owned, leased or controlled by the parties of the second or third parts, or el 'her of tnem, via any otner line or lines 01 rauroaas oiner than those of the parties of the second and third parts than are adopted, fixed or established to the same points, via the several railroads now or here after to be built, owned, leased or controlled by the parties of the second and third parts, or either of tbem; tbe true Intent and meaning of this agree ment teeing to give to all Ireight and passengers between New York, Philadelphia, or any other point upon the railroads now or hereafter to be built, owned, leased or controlled by the parties of the second and third parts, and all points upon any of the several railroads now or hereafter to be built, owned, leased or controlled by the parties of the nrst part, or either ot them, via the said rail roads of the parties of the second and third parts, or either of tbem, nt all times the advantages of the lowest rates per mile and the most favorable ar rnngements established or adopted, via any other line whatever. Twenty-first. The Atlantic and Great Western Railway Company hereby covenant and agree to aud with tbe parties of the second and third parts, that they the said the Atlantic and Great Western Railway Company will, within six months from the date' hereof, commence to lay a track of prac tical uniform gauge with that of the present gauge of the railroad of the party of the second part, npon the entire length of their railroad from its proposed connection with tbe Western Central Railroad, at or near Franklin, in Venango county, Pennsylvania, westward to Dayton, in the State ot Ohio, and eastward upon the same and tbe Oil Creek Railroad to Oil city in Pennsylvania, and that they will complete the laying of the same on or belore the first day of November, In the year of our l.cra one tnousana eight nunarea ana sixty nine, eo as to allow of the passage of narrow gauge cars over tbe said railroad, and Its connec tions to Cleveland and Cincinnati and to Oil city. Twenty. second. And the said the Western Cen tral Railroad Company hereby covenant and agree to and with the parties of the second and third parts that they, the Western Central Railroad Company, will, within six months lrom the date hereof, commence the construction of their rail road, and will complete the same, with a track of practical uniform gauge with that of the present gauge of the railroad of tbe party of the second part, from a point upon and connecting with the Atlantic and Great Western Railway near Frank lin to tbe point of connection of tbe Lewitburg, Centre and Spruce Creek Railroad, in Centre county, Pennsylvania, on or before the first day of November, in the year of our Lord one thou sand eight hundred and sixty-nine. Tweuty-tnira. And the said the ljewisourg, Centre and Spruce Creek Railroad Company hereby covenant and agree to and with the parties of the second and third parts that they, the said the Lewlsbnrg, Centre and Spruce Creek Railroad company will, within six months from the date hereof, commence the construction of their rail road, and will complete the same, with a track of a practical uniform gauge with that of tbe present gauge of the railroad of the party of the second part, from the connection with the Western Cen tral liauroaa. in centre county, to a point upon. and connecting with the Catawissa Railroad, in iNortbuinberlnud county, Pennsylvania, on or before the first day of November, in the year of our Lord one thousand eight hundred and sixty nine. Twenty-fourth. And the said the Philadelphia and Reading Railioad Company hereby covenant and agree to ana witn tne parties of the first part, that they, the said the Philadelphia and Reading Railroad Company, will, within six months from tbe date nereoi, commence, or cause to be com menced, the construction of a railroad from some point npon their main line near Hamburg, or Pore Clinton, to a point ut or near Topton, upon the East Pennsylvania Railroad, and will comtrlete. or cause to be completed, the same with a track of a practical uniform gauge with that ot the gauge ol their present railroad, within two and half years from the date hereof. 'i weniy-nnn. .a. no. tne said tne i.ast .Pennsylva nia Bailroad Company hereby covenant and agree to ana with tne parties of the first part, that ttiev. the said the East Pennsylvania Railroad Company, win, witnin six monius irom tne ante hereof, com mence tbe construction of the extension of their railroad from Allentown to the Delaware river, aud will complete the same wilh a track of practi cal unilorm gauge with that ot the gauge of their present railroad within two aud a halt years from tne oate nereoi. Twenty-sixth. The bridge over tbe Delaware river, necessary to connect the extension of the East Pennsylvania Railroad with the Morris and issex itaiiroaa, snail be bunt and maintained in repair at the joint expense ot the East Pennsyl vania Railroad Company aud the Atlantic and Great Western Railway Company. Twenty. seventh: Whereas, the object of this agreement is to tnrnitsb, as tar as practicable, equal nu llities for freight and passengers to and from Philadelphia and New York, east and west. It is hereby agreed by and between the Atlantic and Great Western Railway Company and- the Phila delphia and Reading Railroad Company, -that Whenever the citizens of Philadelphia and the citizens of Pennsylvania shall togvther-provide and furnish one-half the sum of money wceisary to build and equip a satisfactory line of steamers to run between the port of Philadelphia and Eue land, then and in such event the said the Atlantic and Great Western Railway Company and the Philadelphia and Reading Railroad Company will each tuiuish cue-null 01 me reinaiuiug sum tuere for. Twenty-e Ightho This agreement Is to continue and be in force for a period or term of ninetv-nina years lrom the first day of January, in the year of our Lord one uiousanei eignt uunurea anu sixty six. Twenty. ninth. Should any dispute or difference arive between any of the parties to mis agreement. or between any two or more of the companies parties hereto, as to the construction or tils agree. me in, the amount of money due to either or any of vne suia coiupauies, under tne same, or about any matter caube or thing growing out of, or concern ing the same as-reemetiU the same shall be referred to a board of three disinterested persons, one of whom shall be chosen by the Atlantic and Great W eistern Ruilway Company, and oue by the Phil, delpbia and Reading Railroad Company, and the third by tbe two thus chosen, and the said arbitra tors, havirg bee a first duly qualified, aud having ..emu iui piuuiatwa allegations 01 me several par ties, shall make an award or decision, which, If made oy tne whole board, or by a majority thereof, snail be final and conclusive between the partis. And for the faithful performance of all the co venants and agreements, herein set forth, the said parties bind themselves each to the other firmly by these presents. In testimony whereof, the said several compa nies In pursuance of resolntious adopted by their respective boards of directors, have hereunto atlix ed their several corporate seals, the day and year nrst Hereinabove written. healed and deli vered In the pre sences Of 11! 11 r the 1 hiladcl- Attest f J. J. Bhrvocs, rtiis and Read, li.g RallroariCo. I Seal of I the and tbe East Pennsylvania Railroad Com pany. F. b. Gowk, Wm. 11. Wkbb. f Company Vice President Atlantic and Ureat Western Run way Company. Attest : T. W. Kbknard, By tlie Atlantic l Seal of 1 h0 I ( Company. and wrest West ern Hallway Co. Slid theWestcrn Central Hallway Vie Pr.Mnf Western Central Bailroad Oo Attest: B. L'UoMMFPtKr, J. 0. Calhoun. I Heal of ) the 5 (Company.! Geo. I". Miller, By the Lewlsbnrg PrnMent entre a pprnce Creek Railroad Company , r. li. GowEN. Lewlshnrg. Centre and Hprsce reek Railroad Company, a .. . and omp (Co Beai 01 Charles E. Bxith, i he Prjialnnt ' - Philadelphia and Heading Usilrtsd company. Attest: . I Deal of Kdwd. M. Gltmer, I the (Company President ' 7" Kast Pennsylvania Railroad Co. THE NEW YORK PRESS. Editorial Opinions of the Leading Journals Upon the Most Import ant Topics of the Hour. COMPILED EVEKY DAT FOB EVENING TELEGRAm. The Diplomatic Correspondence Concern. ing juexico. from the Tttnft. During the war of Secession Louia Napoleon exhibited no great anxiety to secure the recogni" tion of tbe Bo-called Mexican Empire by our Government. The subject was hinted at once or twice, but from what we have heard we Judge that Maximilian w as more anxious than his mas ter about the matter. Our recognition was ot secondary importance then; for with the esta blishment of the Southern Conlederacy, which was considered aa assured historical fact in Europe, the Northern Government would have but limited influence, and but distant relations with Mexico. The Government and the Empire of JeU'. Davis would have been the power whose action would have been of importance, and there is no doubt that it wuld have been glad enough to recognize, or be recognized by, Maximilian or any one else. liut just when the Confederacy was broken beyond repair iust when the power of our Gov ernment was triumphantly vindicated over all lots upon land ana tea mat is to say, aDuut nine months ago a systematic and determined series of operations were begun to secure the re cognition ot tue .Maximilian empire uy tne Gov ernment of the United States. The diplomatic corref-poudence of our State Department about Mexico is of a remarkably complicated character. This 1s curiously illus trated by the documents which President John son sent to Congress on Tuesday, in compliance with a previous resolution of that bodV. Secre tary Seward has communication on the subject with liomero, representing tne Juarez Govern ment: wiih Arroyo, representing Maximilian; . with Montholon, icprcscntative oi Louis Napo leon at Washington, aud with Drouyn de l'Huys in l'ans, throueh our representative at the French Court. To steer a straight course under these embarrassing circumstances, and to give to all the correspondence the necessary unity of sentiment aiid expression, requires on the one hand no little diplomatic skill, and on the oihcr, that the policy of our Government shall be clearly defined, decided, aud fixed. 'Ihose who have taken the trouble to read the despatches will entertain no doubt that both these reauircments are met. There is much paid by lll-infornied or malicious people about tergiversation in our diplomacy upon this im portant question. isut H is, nevertheless, a lact, testt ' beyond dispute, that lrom the time the invasion of Mexico was projected four years airo, until the Cth of last mouth, when the published correspondence ends, the policy ot oar Govern ment concerning Mexico has Deen ot tue most consisient and steady character, and its oliicial utterances have been such as to merit the desig nation ol the highest statesmanship. It has, under all circumstances, refused to recognize Maximilian, and has never ceased to protest agninst the French policy of invasion. It has constantly maintained its relations with the Hepublican Government, both in Mexico iteelf and at Washington, aud has in this aud other ways given it an unwavering moral sup port. At the same time it has never found it necessary to plunge the nation into war, or to ludulge in blustering threats of war. We all know what the latter course would have meant during the Itebellion ; and though the Rebellion is a thing of the past, and the power and ener gies of the nation are now compact and untram melled, our Government has always to this moment maintained the same pacific course, and the (aire dignified and decided attitude. Neither the rourse nor the attitude can be mistaken, either by Louis Napoleon or by Maximilian. They are only misrepresented by those in this country whose constant business is misrepre sentation. It was at the beginning of March last that er or Arroyo, who had arrived here with the mission, proclaimed in advance, ito 'secure the recognition ol Maximilian, attempted to ap proach the Secretary o4 Htate through Mr. Cor-win,- who had been our Minister to Mexico, and whose favorultlo inclination towards the new empire was well known. He expressed himself anxious merely to secure the recognition of Maximilian's Consuls to this country in the in terest of trade; but took tne trouble of stating that the Government ol Juarez had no existence either dc oeo or de jure a. matter upon which, it must be supposed, or Government entertained a different oninion. No rrt)licatiou beincr mado to on this, the Mar quis de Montholon called at the Department of State fome tune alter, saying ihut a speeuu agent had arrived from Mexico, bearing a letter from Maxiu ilian to the President of the United States; but Montholon was presently informed that our Government was in friendly communi cation with the Republican Government of Mexico, and that the President declined to re ceive the letter, or to hold intercourse with the agent who brought it. Romero next appears uijon the stuK'. complaining ot Arroyo's asuump tion; but Mr. Seward expluins, uud adds that we recognize no other Government of Mexico than that of Juarez. Romero, however, is no better sutisced with this than Arroyo was witti me other. The next rincument la a despntch of Mr. Seward to our MiuiKter at the French Court, for the in formation of the French Emperor. Mr. Digelow is hiioinied "that the Drescuce aud operations ol a French army in Mevico, and its maintenance of authority tiiere, aie causes of ?erious concern to the United States;" that this country still "regards the attempt to establish permanently a foreipu and Imperial Government in Mexico us disullowable and irriDriictieable:" that we cannot agree to compromise 'he position we have here tofore apsumea; ano that we win not "recognize any political institi.tiouH in Mexico which are In opposition to the Republican Government with which w e nave so long ana so constantly mum tuined relations of aimtv aud friendship." On this defaulter, hiAnrr rod to Drouvn de I. buys, he remarked, doubtless with truth, that ne derived neither pleasure nor satisfaction lrom ire contents, iir. Seward reiterates these senu merits, hdwever. lu December Unit, and in con eluding his despatch Bavs that "the United States will not recognize Maximilian even if the French troops should be withdrawn from Mexico." In the same month Drouyn do Lhuys again makes an appeal for the recognition of Mxximilian, Mating blandly "the stronir desire of the French Government to withdraw its auxi liary corps so soon as circumstances would allow it." But even to this Mr. Seward feel compelled to reply that "the condition which the Emperor prweuts is one whica seems to be ineradicable." Thus the w hole of this matter stands. If it be not perfectly satisfactory in all respect, it la at leat ot such a character as to vindicate our Government. The question still requires deli cate and decided treatment; but we may be assured it will have this in the future as Una had i the past A Historical Mistake, from th Tribune. The World, assailing the present tariff and the policy of protection, says: "Dntles ennuot be lnwlullv levied inertly to pro tect mammoth asocintioiis of capital in it'ew Kn? laiid. i'rotcction is but an incident of the ievonu raisins Dowor: and the incident cannot loraliv bn earned above the principal. The 1'rihune school of politicians, who make the ia to rest of manufacturer a thine of paramount Importance, rarolr d'cctim what rate of duty will, on a given artic e, yield the moat monev to the Treasury, but wunt rate will be best lor special private oorperatlons." Wo beg leave to correct our neighbor on a vital point. "The Iribune school of politicians" does not "make the interest ot man'ifadurers a thing of paramount importance:" nor does it seek "merely to protect mammoth associations of r. r. ...... 1 1 V f.T 1 1 ., . , m ixcw r.i.Kiuuu. - vu vne couvrury, we learned our political economy from the essays and letters ol Matthew Carey, llezekiah Niles. James Maditou, and Andrew Jackson, as also from the speeches of Henry Clay, of Kentucky? Tod. Sergeant, and Forward, of Pennsylvania; xvewion ano uoaundge, oi Virginia: Southard, of New Jersey; Henry R. Storrs and James Tallmadge. of New York. etc. etc. To a sinsle New Enalander only Rollln C. Mallory, of Ver mont are we consciously indebted lor any con firm at ion of those views. We learned to love and cherish" the policy of protection while New England was strongly adverse to it while Daniel Webster w as speaking and voting against it and while but a single Boston journal, the Courter, was its advocate. Others have changed for the better or worse, as tt may be but our views ot political economy have been matured and strengthened, not essentially nioditled, by tue aiscussions and developments ot tne last ininy to tony years. All this, manifestly, does not nrove them cor- UUb lb UUtfl CAJUnc me lUI'ttU UllYirUA'llJ mill shallow knavery ot such language as we quote above trow the World, aud to which economists of its school are notoriously prone. Why can't ome one ot tnm ne snamcd into tne manly seeming of taking up General Jackson's letter to Dr. Coleman, for instance, and attempting to show wherein he was mistaken in arguing that the interests of agriculture were to be best sub served by protective duties on imported manu factures? His statement of the case is clear. direct, and positive; it covert the whole ground; let us see the World for once quote it and try to prove it fallacious, eucn a course might con viuce some one of the sincerity, if not the sound nc69. oi our neighbor's Inculcations; while the nuyci, uiuuo iiijjpauujr oi n current suDsutuie tor argument can only harden conceit into bigotry, and preelude investigation- by diffusing the impression that the question hits but one fide. The great and wise men who laid the founda tions 01 the protective policy among us could not nave Deeu swerrea ln-m the true line oy devotion to "tbe interest of manufacturers" or ot "special private corporations," since those had iu their day no substantive existence among us. We were a nation oi cultivators, exporting rude and bulky products wherewith to pay for most ot the metals aud iabrics we required. Of course, we were poor, as purely agricultural na tions always are. sometimes we lound easrer markets and good prices for our surplus pro ducts; at otner times we could scarcely give them away; while in the best times a very luree share of their price was absorbed by the cost of irausii irom proaucer to consumer, uur lathers said, "This is not the trueJpolicy; we must diver sity our industry; we must cherish and natural ize manulacturcs, thereby .securing permanent markets and higher price's for our agricultural produc ts, w hile increasing the intelligence, skill, ano emcvni'y oi our uinor." we micouutiDgiy believe thev were rlsht in tnis view, ana tnat our couutry is tins day lav more prosperous, man 11 would or could have oeen nao mo counsels ot such stateemeu as Hamilton, Clay, and Jackson been withheld or disregarded. Others honestly, we doubt not hold the opposite view: but thev have usu ally been estopped from fairly considering ours Dy sucn calumnious aouse as we have quoted from the H'oWcf. We have studied their economic philosophy, and believe we see exactly wherein it is detective- or mistaken. Tney have not studied ours, because they began with tne ai-suniption that we had and could have none They will never comprehend us, because they do not deem it worm while; Dut their selt-com placency provokes but a tolerant smile, and their most studied insults cannot disturb our equa nimity. Congress and the President The frrepres sibie conflict.77 From the World. The Republican leaders find themselves "be tween the devil and the deep sea." If they break with the President, they incur the riak of so weakening their party that they can no louder command a niaiority in the Northern States ; if they acquiesce in his policy, the admission of the South into Congress and its participation in the next Presidential election threaten them with more certain ruin from another quarter. In the difference which has arisen between Conerees and the President. Mr. Sewurd has availed himself ol a convenient pretext for ab sence lrom the scene of conflict, lie might nav derived 'eoual advantage to his health from a voyasre in the month ot February; but he could not have remained in Washington during the crisis of the conllict without actively exerting his influence on one side or the other. He is a 9tutetman of too much staudit's in his party, he has personal relations with too many members of botb.Houscs, his oociiil and political iulluence 13 toa trieat. to permit him to stand aloot as a neutral spectator. He could not continue to hold uiB uuii? uuu uppuhe ine i risnie-iii ; lie uuum uu, retain hia sraniiing in the Republican party and actively support him; and to h? flies irom the field ot battle to return wuen the smoke q; the conflict-In eius to lift, a'od enable him to see on wbict ;f the opposing (-tandartls victory is likely to ric-rch. Meanwhile, his faithful orpan in this city is attempting to.demonstrate that there is really no conflict, nor any giouud tor conllict, between the President and Congress. Congress, it says, cannot undo the work of the President in the Southern hiatis; the President, on the other hand, cannot admit members of either House to their disputed seat; and so long as each con tines itself to ita own sphere, there is no po-si-bilitv of collision. There is, in all this.au art ful air of Innocence w hich vails a stroke of con summate political cunning. The most desirable thing lor Mr. Seward, as a Presidential apiraut, is to have the existing difference kept open. If it were closed, by the admission ot the South with white suffrage, Mr. Johnson or General Grant would be the next President; if by admis sion with black suffrage, Mr. Coae would be the inevitable candidate tor the Republican party; but by keeping the quertiou unsettled, Mr. Sew ard hopes to slip in as the compromiser ot an otherwi.se ineconc'lable diilerence. The 2 mie."' reasoning on this subject is techni callv plausible, but practically absurd. It is true that the President has no lightful voice in the admission of members ot the two House9; and that Comrress has no authority to oust the new State Governments; aud that if inlther intrudes into the province ot the other, no con flit t can 'aiino at thee particular points. Rut who can be blind to the eno1 tnous incongruity of the Executive de-purl meat of the Government acting on th theory that eleven States are in the Union and cut tied to all Federal rvhta . v bile !he Le -islative department ts treutinj them on the otvnosite theory? If they are In the Union they are entitled to fair share of the Cahinot, offices and foreUrn missions; but if the President bestows on them such appointments, how can a Senate which legards them as out of the Union confirm his nominations, orOongre'M consent to appropriations tor their salaries t For these two great departments of the Government to pro ceed on opposite theori"s would happily accom modate the wishes of Mr. Seward: both as post poning the reconstruction of the Cabinet, and enabling him (it tae 'limes1 theory were ac quieFCcd in) to etve a quasi support to the Presi dent without breaking with the Republican pnrfy. But the Executive and Legislative department! of the Government cannot long proceed in inde pendence of each other. The Executive depart ment becomes defunct unless we crn olect a new President: and the question between the exist ing President and Congress must bo settled be fore a Presidential election Is possible. The next President must be elected on one or the other of tbe9o conflicting; and irreconcilable theories. If those eleven Stales are excluded, the election will not be valid if thev have a (rood title to vote; and vice veiva. Unl ss the question is decided. the Presidential election will plunge us into another civil war. If one candidate has a malority of all the electoral votes, and another a makrity of the States which Congress cousidors as entitled to be courted, a question will arise which only the sword ran decide, unless the Government is rrevlouslv brotisht into har mony with iteelf.. It is very certain that the President will not yield; and there are abundant indications that the Republican majority in Congress hold of the same temper as oh the first day of Ihe session. The House resolution, passed by'a larse malority on Monday, was a vote of censure against tbe President. For what other purpose could they have remonstrated aealnst his withdrawing troops from the Southern States than that of censure? If meant as an instruction to the President, it was a usurpation and an insult. The Constitution makes him the Commander-in- Cbief of the array; ai d, in this capacity, he is superior to all dictation as to how it movements shall be directed. He can make any distribu tion oi tue troops ho pleases, and Congress has no more right to interfere than the Supreme court has to serve on him an lniunction restrain ing him from issuing certain orders to his subordi nate commanders. Alter this gross affront to the President, supported by so largo a majority, it is absurd for the Republican journals to descant on the prospect ol a reconciliation. SHIPPING. FOR NEW ORLEANS AND SAVANNAH DIRECT. FIEST CABIN PASSAGE TO NEW ORLEANS F0HTY DOLLARS THE NEW STEAMSHIP MATANZAS, WILLIAM LIES EGA NO, Commander, Will satl from NEW YORK, 8 KTV ED AT, January 1 J, carrying passengers at above low rates. Tbe well known and popular steamship MISSOURI, James Sueiiman, Commander, will follow January 20. FOR SAVANNAH DIRECT-Weekly Lino. Tbe splendid new steamship SAN SALVADOR, Cap tain Atkins, will sail Saturday, January 13, and be suc ceeded by the SAX JACISTO, Captain Lovelaud, Satur day, January 20. For Tickets apply to H. L. LEAF, No. JS0 CHESS OT STEEET. GARRISON & ALLEN No. S Bowilng Green, Nen York. 11 KHl HIGHLY IMPORTANT NO- Tie E. iu. bi. ABOARD AND ROANOKE BAILROAD CHAStiK OK HOFR. On and after Monday next (9th of January) the steamers ol the OLD UAYL1NK will leave BALI I. MOKE tot H OKIKESI AJOflKOE and NORFOLK, at 5 o'clock P. M. V e now offer to the public, by this route, unsurpassed acconimooauons, in naving two aucu steamer aa tue TIIOMAH KELM and ALEI.A1DK. Paseenkers leaving Baltimore at 6H o'clock P. If. will arrive at JNonoia in time 10 connect witn tne jama Elver steamers for CITY POIN I' and RICHMOVD. Tbo Seaboard and Roanoke Railroad beinir now ooen. this is tbe on iv line by wbicb connections can be made with 1' at fortenioutti urNutlnlt. uiackwater. Kdentna Plymouth. Weuion. HalelKh. UolriHboro Newborn. Wil niineton and all points on tbe a-reat southern route. Passengers iiolng to any point south at Norfolk will find this to be the most txptditwui and the cheafett route. Fare irom Philadelphia to Forlresa Monroe 7'75 " " Norfolk 7 78 " " City Point 10 U " . Richmond It M Through tickets from Baltimore to VYeldou, N. C, 12 QUI V. Thiough Tickets can be obtained at all the depots of the principal Northern, Eastern, and Western cities, and Washington City,D. C. Be particular to procure tickets by the old-edtabllshed J)A x 1.1 r, r. i ( Mate Boom" and Meals ez'ra. The State Room accommodations are unsurpassed anu iiiv utuio tvii Buppueu. Paw-enera taking tne 8 A.M. train from New York pave anipie time to nine in uait'more. FassenKers leaving Philadelphia at 915 or 11-30 A. M. will connect with this line at Baltimore. Passengers leaving Washington at 1 HP. M. will con nect witn this line at bililmniv. Passengers and their baxxage transported free he tweet railroad aepota ana steamers. M. N. FATL.,Prealdenf R. D. JAMAR, General Tassonger Agent, Phlia. IIA MILL'S PASSAGE OFFICH FOR LIVERPOOL AND CORK DIRECT. ibe linit-class mli powered Hyde bunt Iron screw Rtcmmhln o this Line leuularlr KVKRl WfDSEDAY 1 UROUOflOTTT TIIE YEA FIKT CAR IN (through Irom Philadelphia) W-t STEERAGE do do do (3d Uv For LONDONDERRY,- BELFAST. DUBLIN, GLASGOW OR LIVERPOOL. CABIN ta cordlnato ;ocalionj 90. iS9. and 70 8TEEKAUE JI) 01) All payable In paper monev. and booked turocgh tree frum 1 hiladeiobla to any oi the above oort. Fiinlen about visiting the old country will find ltfto men auvautage to can on tne unuerstgnea, Dciore eu- kaying eimw iiere, as tney can seoure ctioice Dertns, save their rul.-oad expenses to New York. For passage, aop'.v to W . BAMTLL, No. 217WALNTJT Bticet. upstairs. Drafts lssufd for any amount payable in any u irt of Fngiaud, Ireland, Scotland, aud Wu.es, or on tho Con tinent, o ti HTKAU TO UVRRPnnT.- UJ-.i Calllnn at wl'EENSTOWN- The Inmau Lias. kai urn M1 w I- carry mg uie u. . CITY OF LONDON, HuturUuy. Jaouaiy IS KANGAROO. Wednesday January 17. CITY OF BALTIMORE Saturiiur. January 20, At noon, from Pier 44 North ittver. haiku eiK- PAmHARO. Kirst Cabin afHi-OH Steeraee IS01W First Cal-ln to London 85 (W SteecuK-'l .It ...ndon... .84-00 Flrt Cabin to Paris... 105-UO hteeruKSr Lrla 40-00 1'asseugurs also forwarded to llavf , Hamburg, Bre men A-e. Are., at nwMtarjitt, rates. Papsage bv the nial steamers, salllT every SATUR DAY, payable In go-d Passage tne mlu week tunniB,. nfkvfth Jt In t'nltfld Ktate.S CQI' CBtCT. Passage by the Wednofday steamers i Cabin, 00, Mi..ri aui iMTihln in United States currency. hteerage paiwaxe lrom Liverpool or QutusUwn, 3 gold, or its equivalent Tickets can be bought here by persons seuums i" hichu. ForlurtUer Information apply at Vk Company's Offices JOHN n OA1E, Agostt, Wo. ill walnut Bt t. PhUadeiphla. FOR NEW YORK. DESPATCH and bwlltsure Lines, via Delaware and nun unai. i ne steamers oi these lines are leavinar daliy at 12 o'clock si., and 6 o'clock F, irooa third uler above Wainut street For Ireight. which will be taken on arcommodatlni minis, sppiv to WILLIAM M. BAIRD Jt CO., No. Li4 ti! DELAW Attn. Avenue. ROBERT SHOEMAKER & CO. H. E. Cor. of rouBTU and BACK Streets, PHILADELPHIA, WHOLESALE DRUGGISTS Importers and Dealers in Foreljrn and Domc'tio Window and Plate Glass, MANUFACTURERS OF White Lead and Zinc Eaints,Putty,eto AGENTS FOR THB CELEBRATED FRENCH INC 1AINTS. Dealers and Cousutners appplied at 0'ii) 3tn VERY LOW PRICES FOR CASH. INSURANCE COMPANIES, TVCLAWARE MUTUAL 8AFKTT INSURANCE 1 C'OMPAN T, JNC'ORrOBATr T BY Tllf. lf.'tiBl,4TUra Vlf NN Yt.VA N t A. 1HJ. OFFICE 8 K. (-OKNF.lt 1 1ll KI a KD WALNUT BlPr.M!', I'lllLAIir.LI nuu WAKIMS lN.sURAi.CK OV VFBSfcLesl CAROO. To all partt of ths w FhtU-llT ' ) INPTTRANOKS On Goods by Blvi r canal. Lake, and Lan4 0 F1RK INflL'ttANClvl On VmvIiiitmIIi! snicrallv. On Store, Dwe.linn Houwa, etc ASSETS OF TIIK. COMPAHT hovrniKrr 1. lsbV lino m Culted Bute 4 per cent, loan, 1!....t'M,!Vt4a iMH o - hi.... 11 inn 2WW)o " 1 1-10 ir cent, loaa, Trranurr Not 104 MRS -M 100 Ot'O State ot i eniuy Ivanla Five Tor Cent. l.oiui M.flM , M.OOO State of I'cunf vlvaula blx Per Cent. Loan MJ- 125,000 CUt of l'Mlaclelphla 8 ix I'er Cent. I-oan ll2,81I-8 10,000 FeiinnylYnnim Raliroa1 First Mort- ptue SU l'er Cent. Honda W,00t-0 23,000 Fennnylvanla Kailroad Second Mort- Mx I er ( eat. Bond" U.TS- 25 000 TV extern Pennnylvania KalJ-oad Mort gniie Six Per Cent. Konilii 2-1.75 y 15,000 3Mi Shares Stork eiermiintown (it eeanoanT. principal and Interest guaranteed by the City ol l'lilla . elplila U.K3T-M 7,150 U Hi area Slock rennjriviu.la BaU- ro-.d company 8.190-4 8,000 100 Sliarcn Stock North I'cautylvania Bailroad Company 1,250-40 40.000 Deposit with United Htjiten eioTern- ment. ml' Ice t loten dara' ca 1 40,000-44) 30,(00 State ot lenneasce Five Tor Cent. Loan 18,990-Ot 170 100 Lonns on Bonds and ai ortgaiie. fliat llona on City Property 170 700-0 tl,OSt,850P'. Market value $9tW je- Item r.siaie Stt.lWfW Hills receivable lor In uranees made. Ul.VU 11 Valances due at AKeucica.- Premium on Marine Policies. Accrued Inte rest, and otlici debts due tue Com pany 44,811-U Scrip and Block of son dry Insuranoe and other ( ompaulca, t 1H3. Esti mated value .' 1,914 Casii Id Bank 5.' SO , C'Mli la Drawer 7S 48 5S,6M-n it.ra.tuii-ut DIRECTORS. .Samuel R. "tokos. Thomas C. Rand. John C. Davis. J. F. Penlstau. r dffinnd A. Snnitur Heary Moan, William O. Bonltaw. Rdward Darling too, H. Jones Brooks. Fdward Lrvourcadi. Theopbi us Paulding, Jobn H. Penrose, J amea Traouair, uenry t, liaueit, Jr., James C.Uand William C. Ludwlg, Josepn U. Heal, Jacob P.Jones. James B. McFarland, Joshua P. Eyre, ueorge i". Uilper, Hugh Craig. Koierl Burton. Spencer Mcllraln, J. B. Semole, PHtxbar, v. B. Berger. Pttburg. TI. T Mnrvan. PlttMhur. JohuD Taylor, THOMAS r. HAND. Prmlaent, JOHN C. DAVIS. Vice Piesldene. nEsrsr Ltlbubm, i-ecretarr. uu NORTH AMERICAN TRANSIT INSURANCE C0KPANT, No. 133 S. FOURTH Street PHILADELPHIA. Annual Policies Issncd against General Accidents descriptions at exceed! ngly low rates. Insurance effected for one year, In any sum from ltk) to 110 000, at a premium of only one-half per cent, seen ring tbe full amount Insured in case of death, and a com pensatlon each week equal to tho wbole premium paid. Bhort tune Tickets for 1, 2, 3, S. 7, or 10 days, or 1. 1. 6 months, at 10 cents a day, insuring In the satn of tJ0M or giving $18 per week ii disabled, to be had at the Onae- ral Office, No. 133 B. FOURTH Street. Philadelphia, r a the various Bailroad Ticket offices. Be sura to nuxohasa the tickets of the North American Transit Inauiaaoa Company. For clicolars and further Information apply at th General Office, or of any of the authorized Company. llwis I, huuit. President. JAMES M. CONHXD, Treasurer. HKJ.RY C. BROWN, Secretary. JOHN C BULLITT. Solloltor. D1KECIORS. L. 1m. Ilonpt, late of Penm-ylvunla Railroad Coatoanr. M. Baird of M. W. Baldwin 4 ( o.'a. ' Samuel C. Palmer, Cashier oi Commerolal Bank. Richard Wood, Ne. 309 Market street. James M. Conrad, No. 623 Market street. J. Klnpsly, Contlncn al Hotel. ; II. G. Lelenrlng, Nos. 237 and Docs street Samuel Work, ot Work Met ouch Co. George Martin, No. $1 Cbennut atieet. 11 1 If T n E PROVIDENT Life and Trust Co.. OF PHILADELPHIA. Tnenmorated hvthf.Ar.Atn nf Pdnnavivnnt.TTitni S2d. IHti6. INSl'KEri LIV'F.M. ALLIlW-t IXTKRKitf UK DEI'OSlTK, aN1 GRANTS ANNUITIES. CAPITAL, 150,000. llLRKCTORS. Samuel R. Shipley, Jenmiali Hacker, Joshua H Moiris, Richard Wood. Richard Oadbnry, Henry Haines, T'Wlsiar Brown. William C. Longstreth, .t nares jr. SAMUEL B. b HI PLET, President. Rowland Pakuy, Actuary. offic8. CI 28 It No. Ill S. FOURTH Street. eoimi. 1829. CHARTER PERPETUAL. FRANKLIN FIRE INSURANCE COMPANY ( Ot rillLADELt-BlA AS8ETS ON JANUARY 1. 1864. 2.501.M7-04. CAPITAL. MOQ.OM) ACCRUED ISTjfiPLl'e Wl HIM 1 REM1UM6 1 1UJ.4W Unsettled Claims, iv!.'. l V Income for lHttt, s:ii)l,tlirt LOsoES JrAli) tvNCK 1829, OVERto.OW.vOO. PERPETUAL AND Li It- f KMPOR RT RALTERAld. POLICIES OK CHARLFS K. BAN CLE R. ISAAC LEA. TOBIAB WAGNEU, 1 1 D w ARD O. DALg, PA." f- E Li UII.l, 1 , JACOB H. SMITH. 111- (UtiW K-AT.k a ALFHED FITLI-.lt. FliAS. W. Le.WIS, V. D. N. BAKCKKH. F rent .lent. OEOhOE W. RICH A HPS, I II.'. i,E.S x-d i i no dim,., vice rreaiuenu Jamks W. Mcmi.i i; km. Secretary pro. lein. 2 lb 11 IyHCEMA 1NSLKAACB COMPANY OP PHILADELPHIA. istunrwuAiM) im uuaktek ikri"etuA-U. No. 2-4 WALNU'l t-treet, opposite the Exchange. In addition toMALMNE and ISLAND lJltiCiKANCJ! this Company Insures ram loss or damage by FIRE, oat liberal teiius. on buildtogs, merchandise, furniture, etc., lor - liinlud periods, uud permanently on building, by deposit ot premium. 1 be t ompany Pas been tn active operation for mora than MX i V YE K-t uurmg which all losses have baesi promptly adjusted aud paid. DIUECTOBS. John L. Hodge. Lawrenee Lewis, Jr., David Lewis, benjamin Ettlng, Thomas H. Powers, A. R. McHonry, Ediuond ''anilioa. Wlliium AltKea, 41. L. Mi' honey. Job . T. Lewis, William is. ( ram. Robert W Learning , V. Claik Wharton. nsmuei Wilcox JUil-l WLCiLEKEK, Frewlrat, Samuel Wilcox, be returv JHlT ,'IkE INSURANCE EXCLUSIVELY. THE ' ftKSeVLVANU FIRE lNHCRANCf. COMPANY Incorporated 18V5 Charter Perpetual No. fit WAL- r i t Mrueu opposite inuepenaence Biiaate. This Company, tavorab v known to the community for over forty yean,, continue to Insure against loss damage by hre on puli luor Private Buildings, either perniuiient y or tor a limited time. Abo on Furnitura, htocka of Goods and Merchandise generally, on liboial terms. Ilieir capital, toeet her with a large Burpias runa, Infested In the niot careful mauues. which enable them to Oder to the Insured au undoubted sosoriurw the case oi loss. DIKICTOan. Daniel Smith. Jr John Derereas;. Tboinas 8mltlt, Henry Lewis, J. Gilliuuhaui FolL Alexander Benson, lraac Haz t-liuint, i nomas Rooms Daniel Haddock Jr. William O. Ob Secretary. IWly F IKE I N U A JN C E, THE IIOMF ISrRANCF. COM PANT i -PHILADELPHIA. NoTLMlS- FOURTH Street. Char er PerpetuaL Authorised Capital, IM0 004) .na Paid-up Capital, HUfl.OOp. Insuies against loos or damage by FIRE on buildings, eltlie' permanent y or lor a LIMITED period. Also oat MERCHANDISE generally and Household Furiuturs, city or couutiy. .1 mM Brown. 'i homas Kirn her, Jr., ' Clmre A. Duy, Win. D. lewis. William H. Bullock, Y in- l. Need.es. Lemuel Coitin, Chas P. bayard. J. Illllborn Jones. JotiuD 'lav lor, .toiiu woousine. J ME9 BROWN. President CIlAs. A. DC V , Vic Pifeaidant TLOM AH NE1LSON, Secra ISJIy
Significant historical Pennsylvania newspapers