22 JUNE 1872, Page 1

It is, at present, of course, a matter of pure

conjecture what the drift of the communications still actively interchanged be- tween the British and the American Governments may be. Some suppose that it is intended to appoint a new Commission to settle the international understanding to which we are to agree for the future about Indirect or Consequential damages for the negligence of neutrals ; some, that the only discussion is as to permitting an adjournment long enough for a new Supplemental Treaty ; and some, that the Arbitrators will decide against the Indirect Claims without asking to have them discussed, and so set the agents on both sides at liberty to proceed with the Direct Claims. But the simple truth is, that the secret has been well kept, and no one haa any private information of the least value as to the mode in which the difficulty, if overcome at all, will be overcome. The secrecy on the part of the Tribunal, though "optional," is in this case as complete as if it were compulsory.