Mr. Osborne Morgan, in a letter published on Tuesday, again
complains that the Captain of H.M.S. Espiegle ' should have helped President Balmaceda by conveying 3,000,000 silver pesos (L120,000) to Monte Video. Admiral de Horsey ex- plained, however, on Wednesday that the Captain committed no offence, British ships-of-war being permitted, under regulations of ancient standing, to carry specie, either for Governments or individuals, whenever such carriage is not inconsistent with the public service. The rule is intended to serve, not to injure commerce, by allowing the transport of treasure, which is vital to business, at a time when the seas are unsafe. All specie would be sent in this way from Australia, if a hostile Russian fleet were cruising in the South Pacific, as nearly happened in 1855. We do not see why the British commander, being asked to convey treasure by the only Government of Chili recognised by his Sovereign, should have refused the profitable task. It was not his business to decide that the Chili= President, who, be it remembered, sent the silver for a strictly public purpose, the purchase of an armed steamer, ought to have left that particular parcel of specie in the Treasury vaults. The President might have been acting with strict legality, and we are not sure that, if he had the sanction of Congress, he was not within his powers. It was a bogus Congress, no doubt, but how is a foreign ship-captain to tell that ?