Mr. Renter's Atlantic Cable telegrams have been rather more misleading
than ever this week. On Wednesday, his agent in New York told us, under date New York, 18th inst., "The Bill for the military government of the South appears likely to fail. The impeachment scheme loses ground." On the same day, under the same date, we heard, "The Senate has passed a substitute for the Bill adopted by the House of 'Representatives on the 13th inst., establishing martial law in ten of the Southern States," with further details of the Senate's Bill. On Thursday we heard, under date 19th inst., "The House of Representatives has rejected the Senate's substitute for the Military Bill," but with no further notice of theprobabilities of the case. On Friday we heard, directfrom.
the Times' special correspondent in Washington, under date 21st inst., " The Reconstruction Bill has been concurred in,"—that is, the one passed by the House of Representatives. "Congress establishes military governments in the Smith, but will restore completely any State whenever, under a free suffrage, it shall adopt the new Con- stitution embracing the Constitutional Amendment. In the mean- time, all those who were engaged in the rebellion are excluded from office and from voting." If the Times' correspondent did not occasionally send us a ray of pare fact, the Atlantic Cable would be, for political purposes, a mere nuisance. Mr. Renter's New York agent's variable anticipations are usually better adapted,—we do not mean intended,—to affect the Share Market than to affect politicians ; or if to affect them at all, then only with amazement at his political confusion and erroneous prophecies.
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