It was an event of much importance, and the first of its kind in the history of that exclusive nation. A treaty was perfected guaranteeing liberty of conscience to Americans in China, and certain commercial privileges of great value. POLITICAL PARTIES.--The republican party nominated General Ulysses S. Grant, of Illinois, for President, and Schuyler Colfax, of Indiana, for Vice-President. The democratic party nominated Horatio Seymour, of New York, and General Frank P. Blair, of Missouri. Virginia, Mississippi, and Texas were not allowed to vote. As the other Southern States had been "reconstructed," had granted negro suffrage, and enforced a strict registry law, they were permitted to participate in the election. Grant and Colfax were elected. GRANT'S ADMINISTRATION. [Footnote: Hiram Ulysses Grant was born at Mount Pleasant, Ohio, April 27,1822. He was unwilling to follow his father's trade, which was that of a tanner, and, at seventeen, an appointment to West Point was secured for him. His name having been wrongly registered, Grant vainly attempted to set the matter right, but finally accepted his "manifest destiny," assumed the change thus forced upon him, and thenceforth signed himself "Ulysses Simpson," the latter being his mother's family name. Two years after completing his four-years course as cadet, the Mexican War broke out, in which Grant conducted himself with great gallantry, receiving especial mention and promotion. After this, he retired to civil life, where he remained until the opening of the war in 1861. He was then appointed to command a company of volunteers. Having taken it to Springfield, he became aid to Gov. Yates, and was finally commissioned as colonel of the 21st Illinois regiment. His military and political career was henceforth a part of the country's history. After the close of his presidential terms, he made the tour of the world. During this extended journey, he was everywhere received with marked enthusiasm and honor, and his dignified and consistent conduct shed lustre upon the country he represented.] (EIGHTEENTH PRESIDENT--TWO TERMS: 1869-1877.) DOMESTIC AFFAIRS.--_Pacific Railroad_.--The year 1869 was made memorable by the opening of this road, which completed the union between the Atlantic and the Pacific. The traveler can now pass from New York to San Francisco, a distance of about 3,400 miles, in less than a week. This great highway has linked the West to the East by iron bands, has carried thousands of pioneers into the hitherto wild country along its route, developed fresh sources of industry and mines of wealth, and opened the United States to the silks, teas, and spices of Asia. American ingenuity has solved the problem which foiled Columbus and the olden navigators. It has made for itself a route to India.