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GREAT LAW SulT.-The New Orleans Union of the 23d ut. says "The suit so long pending between the United States and the City has at length been terminated by the decision of the Supreme Court at Washington, against the claims of the Government. The consequences of this decision 10 tie city are of an important na- ture. The sum of $1,600,G0o, the pro- ceeds of the sale of the lots on the Leyee, and which amount is now in the City ahd Commercial Banks, will become the pro- perty of the city; this is more than sufficient to pay the whole debt of the city, and thus removes one of the most serious objections to the bill of Alderman I.abatut, dividing the city into three sections"