Reduction Of The Army And Navy

- Wc' learn irom the most reliable sourcos that it is the iuteution of the governmont to reduce the array to one huudred thousand, or perhaps fifty thousii iid men, ond the navy in üke proportion. We ara jlad of this. We do uot require a largo standing army of fieveral hundred thousand men. Tlio only standing army wanted in this country is an independent press, whieh aro the pickets of liberty, and a sound democratie govprnment. We can raise an army pi five bnndred thousand men at any time iu fivo weeks. Let not Louis Napoleon, however, or Lord Palmerstou come lo the conclusión that, because wo are reducing tho army and nnvy, we are reducing our strength. - Ou the contrary, we are husbanding our strength. Every one of the vetoruDs who are now retiring to their homes to reposo theniseh'os would, if ueocesity arose - ii, for oxample, auy doubtful questiou was to be settled with either of' these two govornments, or both combined, in (Junada or Mexico - rally round the old flug and cornprise aa army in six weeks that would swoep away doublé tho number of troops that Fraace and England could eend to this country in one feil swoop. We hnve generala enough to coininand them, too, equal to any ia Europe. We are glad lo perceivo that the Secrotary of the Treasury is abuut to reduce the expenses of the government in that di'partment, so as to enable us to pny the national debt. All e.xpeuses should be cut down in like uiaimer. - Mr. McColloch ík not the man to believe, with Jay Cooke. that the national debt is a blessing. IIo is a thinker of a different kind. A man of common 8ense and a practical fiuaneier, lic believes that to be out of debt is to be out of trouble, and he ie goiiig to get rid of Cooke's blessing as soon as he can. - N. Y. llcrald. Taxino Govkrnmkxt -Botii HoiTges of the New ILimpshire Legis'nture have ptissed the bill taxing the nooino on United States bonds 15 peicent., and it is now a law. Bemarking upon tliis, the ltaitford 'T mes sav : - " The people all ovcp the country are going to demand that oiipitüüsts vho invest in United States bonds shall bear thcir just proportion of taxes." - HuffCourier. Giov. Curliü's daughter has eloped ' with and inarrivd a gay soldier boy. ' Italy iiow pogsessai a fleot of 98 vessels, 7-i of vvliich uro ships oí' the lino, and 21 aro transporta. The uhips of war confiet of 18 iron-clads, '21 seiew ateamere, 25 padille-wtiüul etoainors and 10 sailing vesscls. Qaeen Viotoria's oostume in public is a black sillc dress, trimmed witli crape and jet, und aMary Queen of Sootflcapi with long veil, nooklaoe, and cross of diamonds. Tbe'railrortd lias now opened betwcon Ilichmond and Washington. ,ji - ■■■--■ - "■■- ■ ' ■ 1 1, ii 1 1 i i mí !■ i aiiiii ii in