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Two days later from Europe.

the news of the Maryland campaign in England — Comments of the London press — the Confederate steamer ‘"290"’ in work--five Yankee merchant ships destroyed. &c., &c

The steamship Persia, with Liverpool advices to the 28th ult., arrived at New York Thursday evening. The summary of her news as published in the New York papers says that the ‘ "news of McClellan's victory over the Confederates at Antietam was received with great delight by the friends of the North, and caused a rises in American securities in London and cotton at Liverpool."’ The following is the summary:

Highly important gun experiments had again been fried at Shoeburyness. The new Whitworth shell, weighing 182 pounds, had proved itself most destructive. At six hundred yards it passed clean through a formidable iron and wood to get as if it were a punch, and afterwards exploded with terrific force. The charge of powder was twenty-five pounds. Mr. Whitworth was warmly congratulated on his success.

A ‘"Southern Clue"’ was being organized in some of the towns of England, Liverpool had already subscribed fifteen thousand dollars. The fund is intended for the relief of Southern prisoners held by the Union armies.

At a meeting of the Scinde Railway Company in London it was stated that the cotton crop of Scinde, India, would exceed 50,000 bales, and the next year's growth is expected to be three that quality.

Mr. Harben, the discoverer of the zosters marina as a substitute for cotton, writes a letter to the London Times, stating where the plant is to be found in great abundance on the English coasts. Practical men at Manchester consider the large quantity of vegetable or mucous matter to be got rid of before the fibre can be disengaged a serious obstacle; and they ask if a ton of grass wrack yields only a few pounds of fibre, where are the hundreds of millions of tons to come from which will be necessary to set the operatives at work again? It is objected, also, that the fibres are too firm.

It is announced that the vacant Archbishopric of Canterbury had been tendered to and accepted by the Archbishop of York.

It was reported that the Prussian Government intends to propose to the Chambers to vote the budget in monthly instalments.

The ship America, from Bombay, with nearly 8,000 bales of cotton on board, had been abandoned at sea.

The "200" at work--five Yankee vessels destroyed.

It will be remembered that the Confederate steamer Alabama (‘"290"’) sailed from one of the Western Islands on the 24th of August last. She has ‘ "turned up,"’ as the following from the London Shipping Gazette, of the 27th, shows:

The Cairngorm. from Sydney, entered the river at Gravesend to-day. She makes the following report: Three whaleboats' crews came alongside us at Flores from the steamer Alabama, Capt. Semmes, and wished to be reported as having had their ship Okmulgee, American whaler, hailing from Edgartown Massachusetts, set on fire the 5th inst. and totally burned, by the Confederate steamer above named.

The Okmulgee had on board 250 barrels of oil.

There were thirty-four hands, all told.

Captain Setames (late of the Sumter) behaved hospitably to the crew.

The Alabama has taken and burned four whalers within a short time.

The Alabama took an American schooner (name unknown) while the Cairngorm was off Flores.

The Okmulgee was a ship of four hundred and fifty eight tons burthen, the largest hailing from Edgartown. She was commanded by Captain Os born. She sailed from Edgartown. on the 2d of July last, bound for the South Pacific.

The London times on the American news — not much Gained for the Federal.

The London Times, of the 27th says that if McClellan's dispatch contains a true account of the engagement in Maryland of which it is in great doubt, ‘"a gleam of success has a little brightened the darkness of the Federal cause."’ It adds:

Though a greater victory than that now claimed would still leave the Federal Government in a desperate position, the military advantage, contrasting as it does with such a series of defeats, is likely to produce a great effect. New York requires but slight encouragement to be hopeful, and a battle won, though fought on the wrong side of Washington, will probably make the commercial capital jubilant. Unless reversed by some Confederate coup, like Jackson's descent through the Manassas Gap on the flank of General Pope, when he thought himself victorious, the present engagement will revive McClellan's military credit. Considering the circumstances under which he sat out from Washington, in pursuit of the successful Confederates, it is a considerable achievement to have marched or fought at all.--Yet he has done both with a celerity that did not distinguish his operations in the Peninsula; and he has done it with troops that must have been discouraged by continued retreats and the spectacle presented within the lines of Washington, from which they again moved to recommence the struggle.--But if McClellan has really won the battle, it is still a fatality of the Federal Cabinet that it will not gain an unqualified advantage from it. The General's past failures will be attributed to its official interference with his plans; his success will date from the moment dire necessity compelled the Government to leave him freedom of action. The Government is unpopular enough even for a success to be turned into a weapon against it.

The best result of any successes of the Federal arms, now that the war has rolled up to the North of Washington, would be the possibility of honorably turning them to account by accepting the offer of the Southern Congress, at least to consider some terms of peace. That body is shortly to discuss the question, and if any proposal is made, it will require an answer. It may be difficult to give; but no possible conditions of peace can be imagined that would not be better for the whole nation than a continuance of the war. If less than two years of conflict have left the conquest of the South more remote than ever, and created dissensions that threaten to split up the North itself, what will be the state of things two years hence? Already the worst consequences of civil war begin to appear. If the Girondist cannot conduct the war, the Mountain may ‘"organize its sections."’ For the first time in the history of the republic, something like the disposition or compelled resignation of the President is discussed. Those who have been the most zealous supporters of his Government now declare that its weakness and incapacity make it ‘"a prey to the first strong hand venturing to seize it."’ Before the strong hand appears — probably with a sword in it — the Government would do well to hear what the Southern Confederacy has to propose as the conditions of a settlement Without a change of policy victories in the field will be very barren successes.

The London News, of the 27th ult., says that McClellan's troops have proved to be like British soldiers, not knowing when they are beaten; and states that Gen. McClellan has shown enterprise and good generalship, and his men great valor.

The Paris Constitutional, of the 27th ultimo, throws doubt on the truth of the Federal victory at Hagerstown. It says that a dispatch was received at Paris to the effect that Gen. McClellan, after the battle, retired upon Washington.

[from the London army and Navy Gazette, September 27.]

The Confederate invasion of Maryland has, if we may believe latest advices, proved a failure.

The London Index (rebel organ) says that the Southern club at Liverpool was meeting with great success in raising funds for the relief of Southern prisoners in Federal hands. The contributions already exceed £8,000.

Napoleon defines his position on the Roman question.

The most important news from the continent of Europe is to be found in the Paris Moniteur, of the 25th of September. The official journal publishes, for the first time, a letter from the Emperor Napoleon, dated in May last, addressed to M Thouvenel, in which his Majesty defines his position on the Roman question, both towards Italy and the Pope. The State paper shows that on the 20th of May Napoleon ordered M. Thouvenel to propose an arrangement between the Papal and Italian Courts, upon the conditions that the Pope should ‘"lower the barriers which separate the Pontifical territory from Italy,"’ and that Italy should ‘"give the necessary guarantees for the independence of the Pope."’ On the 30th of May M. Thouvenel instructed the Marquis do Lavalepe to urge Cardinal Antonelli to accept a compromise, Italy renouncing her pretensions to Rome, and engaging to respect the Papal territory and assume the greater part of the Papal debt. On the 24th of June, the Marquis de Lavalette informed M. Thouvenel that Cardinal Antonelli had decisively rejected all proposals for a ‘"transaction"’ between Pius IX. and Victor Emanuel. His Eminence replied just as he had replied to similar propositions previously, and just what it was well known he would reply to these--‘ "Non possumus."’ The Pope's conscience would not allow him to make any relinquishment of the territory he received.


Prince Napoleon and the Princess Cloride arrived at Turin on the 24th ultima, to take part in the ceremonies attending the marriage of the Princess Maria with the King of Portugal. They were received with enthusiasm. The Prince had had a long interview with the President of the Council.

A dispatch from Rome says that M. La Valette, the French Ambassador there, would leave in a few days for Blarrits, whence he would proceed to Spain. It is asserted that, having exhausted diplomatic means of bringing about a solution of the Roman question, he will not again return to Rome as ambassador from France.

Professor Fartridge, in officially reporting upon Garibaldi's wound says? The General is subjected to good surgical treatment, and his wound is progressing favorably. If proper attention be paid to him for some months to come a ours will be ef fected, and he will have a good serviceable foot and leg. although, perhaps, a little stiff.

Commercial Intelligence.

[From the Manchester Guardian, (city article,) Sept. 27,] The London Money Market.--There is (Friday, Sept. 26, evening,) no diminution of the dullness which has prevailed in the various London markets throughout the week. Prices show little variation, but such changes as occur are mostly of an adverse kind. Consols opened at the flat quotation of yesterday, 92½93½ receded to 93½, and finally returned to 93½a93½ for money and account.

The American telegrams to-day created perplexity both as regards the real result of the battles between Generals Lee and McClellan, at Hagerstown, and the quotations of the gold and exchange.

The demand for discount at the Bank slightly increases each day as the final close of the quarter approaches, but it is still comparatively insignificant. In the Stock Exchange to-day (Friday) there was more inquiry for advances, and the rate was 1½ to 2 per cent.

The continental exchanges this afternoon were without any decided alteration, but their tone was heavy.

There were no gold operations at the Bank to-day.

Messrs. Satterwhite, of London, say in their circular of the 26th of September.

During the past week the prices of American securities continued to be fairly maintained, without inquiry for United States bonds. Virginia 6's had advanced 5 per cent. up to the 25th inst., when, on receipt of telegrams announcing the victory by the Federal army, these bonds sensibly declined, and close at 49@50. On the other hand the character of the market for railroad securities has been altogether timer, with inquiries for railroad bonds at slightly advanced rates. Erie and Illinois shares have also participated in the improvement, and close at 30¼@31¼ and 49@48½ discount respectively.

Messrs. Baring Brothers, of London, in their circular of the 26th of September, report money very abundant. Consols leave off 93¼a93½ for money 93 ½a93½ for the account. Bar sliver, 5s. 1¼d; Mexican dollars, no price fixed; American eagles, 76a. 2¾d; Doubloons--Spanish, 76s.; South American, 74a. per ounce.

[Messrs. Richardson, Spence & Co's Circular.]

Liverpool, Sept. 26.--Cotton. --The market was very dull and prices daily declined until yesterday, when American advices to the 16th inst., reporting a Federal victory in Maryland, was received.--This news, as likely to prolong the war, caused some excitement, and to-day, with sales of 5,000 bales, prices have rallied 1½d. per 1b. in American, and ½d,@¾d, per lb. in Surate, closing firm at these rates, which, however, are still 1d. per lb in American, and ½d@½4. per lb in Surate, below last Friday's quotations. The quotations are: --Middling Orleans, 25½d. per lb; Mobile, 25d; Uplands, 24½d. in Manchester there is a firmer tone to-day, but no business doing.

The latest markets.

Liverpool, Sept. 27, P. M. --Cotton — Sales to-day of 3,000 bales, including 2,000 to speculators anti exporters. The market was upward and a trifling advance is noted on all qualities of American.

Breadstuffs.--The market is quiet and steady.

Provisions.--The market rules heavy.

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