To test the Router ports, try connecting a PC NIC to each routers ethernet port and see if the interface comes up.
My first guess would be the issue was related to a speed or duplex mismatch.
Try setting the interfaces to full duplex: "duplex full"
Also, (silly question) make sure you are plugged into the Ethernet Interface and have not accidentally plugged into the (shutdown) FastEthernet Interface.
Also, may I ask why you are using the Ethernet Interfaces as opposed to the FastEthernet interfaces?
The error you are getting every few seconds as you ave indicated above does refer to the Ethernet Interface, not the FastEthernet interface as described by the "ETHER" part of the error.