Mr. Wheeler, being on the ground, and seeing the actual condition of affairs, was never in doubt as to the policy his country ought to pursue toward the parties contending in Nicaragua; but the Secretary of State at Washington, remote from the scene of trouble, constantly wrought on by the ministers of foreign countries, and dreading the effect the new Nicaraguan movement would have on old political organizations in the United States, was always averse to any action which might favor the Americans in Nicaragua. Not many days, however, after Mr. Wheeler recognized the Walker government, facts occurred showing in a strong light the good policy of the American minister. Lieut. Fayssoux, as soon as he was ready for sea, received orders to sail northward from San Juan and cruise about the Gulf of Fonseca. It was well known that the enemy were communicating with San Salvador and Guatemala by bungos from Tempisque to La Union, and it was hoped the Granada might intercept letters showing the state of affairs at Leon and the relations of Rivas with the other States. The presence, too, of the schooner in those waters could not fail to alarm the enemy and embarrass the reinforcements going toward Leon. It was also reported that the enemy were preparing vessels to send after the Granada in order to capture her, and that these vessels were being fitted out at La Union, in the State of San Salvador. On the evening of the 21st of July, the schooner hove anchor and put to sea, and on the afternoon of the 23d she was cruising off the entrance of the Gulf of Fonseca. “At 3h. 30m.,” so the log runs, “saw a sail standing out of the gulf: made chase. At 5h. 30m. brought her to with a shot from the port gun. Capt. De Brissot (a passenger on the schooner) boarded her. She proved to be the Italian brig Rostan, from La Union, bound to San Juan del Sur. She reported two Chilian brigs and one Sardinian schooner lying at La Union, and the French frigate Embuscade at Tiger Island. At 7, took in flying-jib and foresail, and stood off and on, on the lookout for a schooner that the Rostan reported due from the northward and westward.” Then, on the 24th: “At 9h. 15m. A.M., saw a sail standing out from La Union. At 2 P.M. light breezes from S. and W. At 4, standing to the E., passed, on opposite tracks, the French frigate Embuscade. At 4h. 30m., saw a number of small craft to the E.: called all hands to quarters. At 5, boarded the launch Maria, Capt. Braganda. She proving to be French, and her papers all right, she was allowed to proceed on her course to Tempisque. Capt. Braganda reported the same as the brig Rostan, therefore, as there were none of the enemy’s vessels in the gulf, we concluded to go out to look for the schooner from the N. and W.”