Impobtavt CoynscATtov Cass pi th*Swmm Covwt-A telegram fstm Wi»b-iagton Mjri that tb« c«p W the feiyer Wm. Bagerly and cargo, captured th IMS, and condemned and told in B#w Orleans in 1864, and the money, tome $218,000 paid into Mm registry of court, waa argued In the Supreme Court of the Uni-Jed States yesterday. It comes up by ap-P~l from the Eastern District of Louisiana, taken by Capt. Joshua Bragdon of this pity. The vessel and cargo, at the beginning of the rebellion, belonged to Cox, Brainard, Co., of which firm Capt. Bragdon was a mfnber, owning one-sixteenth. He, however, remained loyal, and his property in Mobile wss confiscated by the rebels: The remainder of the firm remained in Mobile and ran the vessel and cargo through the blockade and was captured near Havana. Henry Crawford of Indiana argued the case for Bragdon, S. D. Cox for the other partners, and Assistant Attorney-General Ashton for the Government. The case will be submitted to-day.The District, Court pf the United States for Louisiana decided the case in fisvor ofsthe Government, on the ground that in cases of this kind it was the property, and not the individual, that commits the offence —that the person who attempts to run the blockade commits no crime for which he can be punished, but merely risks bis property. But in this case Capt. Bragdon had no control over the Eagerly, she being in charge of his partners, who were rebels, and used her to advance the rebel cause, against his wishes. Certainly equity and justice are on the side of Capt. Bragdon, and we hope the Supreme Court will decide that the law is also.IlJ4lt;II