The New York Herald Newspaper, January 14, 1863, Page 4

4 NEW YORK HERALD. OFFICE N. W. CORNER OF FULTON AND NASSAU STS. Money sent by mail will be TERMS cash in advance. | city. NEW YORK HEKALU, WEDNESDAY, JANUARY 14, 1868," what is the use of Stanton, and why should the thority under which they are absent from their respective regiments or corps, from what date their leave of absence took effect and for how long a period. This will probably soon lessen the number of gentlemen in uniform now unemployed in this Deserters are warned to deliver them: at the risk of the seuder. None but Bank bills current ia | selves up at once in order to escape condign Now York taken, THE DAILY HERALD, Taree ceuts per copy. THE WEEKLY HERALD, every Saturday, at Fivs cents per copy. Aunual subscription price:— | One Copy Three Co; 5 Five Copies, 8 Tom COpiOS..... 16.2... seeeecereereeseeeees bb Any larger numbor, addressed to names of subscribers, $2 50 cach. 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Wo | | | | Volume XXVIII ..sccccsevcesseseseeces AMUSEMENTS THIS EVENING. NIBLO'S GARDEN, Broadway.—Favst ayp Maraur- Rite—Loan or 4 Lover. WALLACK’S THEATRE, Broadway.—Pautixe. WINTER GARDEN, Broadway.—Catasxr Conser— Frexou Sry. LAURA KEENE'S THEATRE, Broadway.—Puipe or tax, Mauxxt—Butsy Baker. NEW BOWERY THEATRE, Bowery.—Jean Vausxax— Buick Lavens—Ieisu Doctor. BOWERY THEATRE, Bowery.—Cantx Bor—Jack axp tur Beasstatx—GoLvey Farwxn, BARNUM'S AMERICAN MUSEUM, Broadway.—Miss all hours. Davints WARREN: Couxus Baws—Aftern joponm Nurr, &c., at mand Evening, YANTS’ MINSTRELS, M MOFIAN SONGS, Heit _ WOOD'S MINSTREL BALL Soxas, Dances, &c.—Sanpy © roadway —Ermtorian BUCKLEY'S MINSTRELS. Bu ‘Broadway —Ermiortay Sonas, Dan egaut Ingivute, 659 is, ko.—Tw ourers. DODWORTH HAL: Afternoon 4: § o’clock— ‘De. Maccowan's Lycrem: Fan a OOOrER INSTITUTE.—Dr. Couto y's Axxuat Exata’ ‘Tio of 1&6 Lavomina Gas, BROADWAY MENAGERIE, Broadway.—Living Wiip ANIMALS, BEARDED Saul, ac. AMERICAN MUSIC HALL No. 444 Broadway.—Ba- Lats, Panroutuns, BURLEsqUKS, £0, PARISIAN CABINET OF WONUKRS. 563 Broadway.— ‘Open daily (rom 10. A. Motil 10 8. HOOLEY'S OPERA HOUSE, Brooklyn,—Brmortax Soncs, Daxces, Buatxsauus ke New York, Wednestuy, January 14, 1863. awonty thousand reams of good paper wanted 32x46, Apply at the Hxratn office. Size SHINPLASTERS. Neithor corporation nor individual shinplasters are re ceived at thia office, National postal currency only will be taken for fractional parts of # dollar. THE SITUATION. There are no movements whatever to report from the Army on the Rappuhannock. ,Flags of truce are almost daily sent between the armies. The river has risen considerably since the late rain storm, and the roads are in a bad condition. Despatches from Memphis state that Commodore Porter's squadron, together with a land force under Senecral McClernand, gone up the White River. General Grant had arrived at Memphis. Holly Springs is said to be nearly con- sumed. The rebels destroyed the steamer Charter, sixteen miles below Nashville, and captured a aumber of men. The vessel was loaded with stores The rebel cavalry of General Wheeler, five hundred strong, are encamped within twelve miles of Nash- ville, on the Hardin pike, and General Stanley has been sent after them. Skirmishing was going on all day yesterday in the vicinity of Harpeth Shoals, The Richmond papers say that Gen. Roger A. Pryor had a fight on Saturday with some of our mounted riflemen, five miles from Suffolk, and He then pushed his cavalry towards Carsville, where he texrned that a force of Union troops over eight thousand strong were located; but, according to the Richmond story, they fled precipitately before The battles at Murfreesboro are still cliimed as great rebel victories by the Richmond EL ominer. Covernor Letcher, in response to a requisition fom Jeff. Davis, bas called out all the militia in counties of Virginia bordering on North Caro- for the protection of the State against inva- have rvuted them with considerable loss. Pryor. » Union officers taken at Murfreesboro are to ‘be ‘ld in close confinement until General Butler delivered up to the tender mercies of Mr. Davis. : least so saya the Richmond Whig. Despatches from Newbern, N. C., state that bers of trooper .re pouring in there, and that ‘y important movements were pending. jeueral Wool has been appointed to the com- ad of the newly created Department of the t, which embraces the two former Depart- its of the East and New York. General Woo, ninently fitted for the position, and*had been iweted with this department for several years ons to the war. His headquarters are now He has issued gencral orders nanding all officers belonging to the various orps of the army, and all officers of the line tached service, serving in this department, ptly to report in writing their location, the od in this city. eof the duty they are performing, andthe rity assigning them to such duty. And in manner ordering all such officers, taer of the regular or volunteer ser- now on leave of absence within this partment, to report their residence and the au punishment. The Jura, at Portland yesterday, forwards ad- ditional telegraphic news from Europe to the 2nd of January. The English journals were engaged in publishing | the reports of the repulse of Gen. Burnside’s army at Fredericksburg, and sp culating earnestly on the probable effects of te event on the conduct and issue of the war. The London Times regards it as ‘ a tremendous disaster for the North,”’ and takes it as ‘confirma, tory of the almost universal belief that the Confe- rates are fully able to maintain their indepen- dence.” The London Herald asks if the defeat is not to | be regarded as a part of the ‘‘connection of events which shaped themselves in Earl Russell's mind as those which would render mediation warrantable.”” The London Stay and London News eulogize the | bravery of the Union troops, and do not regard the affair as so very injurious to the fortunes of the | federal government. La France, of Paris, organof the Empress Eu- genie, says that after the battle of Fredericksburg, President Lincoln had a long interview with the | French Minister in Washington, and the peace party in France view the step as expressive of ‘“‘a desire for reconciliation’’ on his part. The privateer steamer Sumter bas been sold at Gibraltar. CONGRESS. In the United States Senate yesterday, the aa- nual report of the Secretary of that body wis presented and ordered to be printed. A memo- rial was presented from twelve hundred citizens of Delaware, asking for a modification of the re- venue laws. A petition was received from the chiefs of the Wyandot Indians, asking to be reim- bursed for losses they have suffered at the hands of the rebels, in our affairs by Switzerland was reported back from the Foreign Affairs Committeee with the re- commendation that it be indefinitely postponed, which was agreed to. A preamble and resolutions were offered in reference to alleged neglect of the Navy Department to comply with a law of the last Congress relative to the purchase of land coutiguous to the Kittery Navy Yard. Objection was made to the consideration of the matter, and it was laid over. A bill for the consolidation of regiments in the field was introduced and referred. A resolution was adopted requesting the Presi- dent to furnish the Senate with all official corres- pondence in reference to the capture of British vessels carrying articles contraband of war intend- ed for the Southern rebels. A resolution was also adopted requesting the President to communicate the correspondence, if any there be, between the State Department and the Mexican Minister at Washington relative to exportations contraband of war from any of our ports to those of Mexico. The bill making appropriations for the support of the Military Academy was reported back from the Finance Committce with amendments. The death of the late Senator James A. Pearce, of Maryland, was then announced, and, after eulogies on the deceased by different members, the Senate, out of respect to his memory, adjourned. In the House of Representatives, the Speaker announced Messrs. Fenton, of New York; Kellogg, of Illinois; Wadsworth, of Kentucky, and English, of Connecticut, as a special committee to inquire into the expediency and necessity of a direct rail- road between New York and Washington, for the purpose of facilitating the transportation of mail<, troops, arms and war munitions. The House then went into Committee of the Whole on the bill to provide ways and means for the support of goy- ernment, and Mr. Morrill, of Vermont, spoke at some length on the subject. A message from the Senate, announcing the death of Senator Pearce, of Maryland, was received, and various members, in fitting words, offered tributes to his memory, after which appropriate resolutions were adopted, and the House adjourned. THE LEGISLATURE. In the State Senate at Albany yesterday there was but little business transacted. Notices were given of bills to prevent the use of public moneys by public officers; to provide for the settlement o¢ the claims of soldiers of our last war with Great Britain; to make three counties out of Steuben county, and to amend the criminal laws so as to provide that criminals shall earn a commutation of their sentence, and that a certain amount shal! be paid them on their discharge. The annual re- port of the managers of the Western House of Refuge was presented and referred. Without transacting any further business, the Senate ad. journed. The Assembly passed another entire day's” session in balloting for Speaker, without, apparently, being any nearer an election than on the firat day. Thirteen ballotings were gone through with, in every one of which the tie be- tween Judge Dean and Mr. Sherwood was main- tained. There were more members present, how- ever, than on the previous day, each candidate yesterday polling fifty-five votes. There have now been sixty-six ballotings altogether since the Assembly convened. MISCELLANEOUS NEWS. The steamship Jura arrived at Portland yester- day evening, and telegraphed additional news from Europe, dated to the 2d of January, which is pub- lished in the Hexaxp this morning. We have also had forwarded by telegraph and print to-day a full synopsis of the report sent out by the City of Balti- more, which left Liverpool for New York on the 3ist of December. The Finance Minister of France has shown thay the government deficit for 1862 amounts to thirty- five millions of francs; but he estimates the sur- plus revenue for 1863 at one hundred and ten mil- lions of francs. A plot for a general rising of the Poles during January had been discovered by the Russian government. It was said that Prussia had threatened Austria to withdraw from the German Confederation unless certain executive proposals of Prussia were adopted. Late advices represent Japan as being in a per- fect state of revolution. - The petition in favor of mediation At the meeting of the Board of Supervisors yes. terday, @ report from the Excise Commissioners stated that $21,630 has been received within the past twelve months for licenses. The quarterly report of the Comptroller showed that the appro- priations were $5,089,358, the expenditure® $4,938,267, and the balance unexpended $97,934 75. The county revenue bonds of 1861 amounted to $690,600; those of 1862, $2,505,750. The war- rants drawn were 97,537,673 12. The amount paid and returned by the County Treasurer was $7,511,- 653. The aggregate receipts from all sources were $12,159,737, and the total expenditures $11,740,285. The nce is $419,452 56. A resolution increas. ing the salary of the District A and those of his assistants to adopted. The Board theets again next Tuesday, Mator General Wool will immediately take auar- from the War Department :— GENERAL ORDERS—NO. 2. War Derarrweyr, ADIUTANT GENERAL'S OFFICR, Wasuinaro, Jan $, 1863. Tne Military Department of the bast is hereby created, to consist of the New England States aud the State of New York—beadquarters New York city. Major General Wool, United States Army, is assigned to the comm. nd of the Department of the Kast. By order of the Secretary of War, E. DB, TOWNSEND, Assistant Adjutant General, The following named officers are announced as the personal staff of General Wool:— Colonel T, J. Cram, Aid-de-Camp, Acting Inspector Ge neral and Chief of Statf, Lieutenant Colonel Joho B, Frothingham, Aid-de-Camp and Acting Assistant Imspeetor General T. Christensen and Captain Septimus Carn- de-Camp and Acting Assistant Adjutant Ge- ‘aptain De Witt Clinton, Aid-de-Camp and Acting Judge Advocate. There are two hundred and thirty-five cases of smallpox in the hospital for contrabands at Wash- ington. Major General Lewis Wallace expects soon to be relieved from duty on the Buell Inquiry Commis- sion, when he will report to General Burnside and be attached to the Army of the Potomac. Tn the Court of General Sessions yesterday, be fore City Judge McCunn, @ man named Law: e Kelly was indicted for manslaughter, in causing the death of Join Slatterly, on the 13th of July last, in Fifty-ninch street, near First avenue. But one witness—the wife of the deceased—testified to having seen the accused strike Slatterly, ‘The other witnesses testified that the deceased was, at the time of thr occurrence, very much the worse for liquor, andconducted himself in a violent and brutal manne; towards the accused. The case will be summel up and given to the jury to-day. Last evenin; Hon. 8. S. Cox, of Ohio, addressed the members sf the Democratic Union Association, at the headquarters, 938 Broadway, his subject being ‘‘Puritenism in Politics.’ Upon this sub- ject Mr. Cox spread himself in his best style, in” dulging in a tirade of denunciation against Puritanism, New Enghndism, Emersonism and Greeleyism. Despite the intervention of New England, he said, the Southern people, who hold the sceptre and wear the crown of sovereignty, shall be heard for their own salvation, The market for beef cattle was active and firm this week, and prices were a shade firmer, owing to an improvement in the qnality. The range of prices was from 6c. a Lle., the general prices 8c. a%ec., andthe average price about 8c. Prime cattle brought 10c. a llc. The receipts were more liberal than last week, but by no means ex- cessive, as all were tacen by yesterday at noon. Milch cows were nominal at $25 to $50. Veals were active and firmer, with sales at from 4c. a 6%4c.and7e. Two choice calves were sold at $60. Sheep and lambs were more plentiful, and some thought rather lower alao, though the ac- tual sales do not bear out the assertion. Swine were active, at 4°c. a 5'¢c. for corn fed, and 3%4c, a 414c. for still fed—a marked improve- ment. The total receipts were 4,653 beeves, 110 cows, 291 veals, 7,526 sheep and lambs, and 40,185 swine. ‘The stock markct continues very active and excited At the morni.g board yesterday stocks were highor again; in the aftermoon there was a slight reastion; but as gold continued to advance it will not probably prove lasting. Gold rose to 14334, and afterwards 144, closing at 144 bid. Exchange closed at 1573 a %. ‘The cotton market was firmer yesterday, middlings having reached 694{c. a 70c., with sales and resales of 1,700 bales. The sales of four were about 31,000 bbls.» at an advance of 5c. a 100. ; of wheat, 175,000 bushels, at an improvement of 1c. a 2c.,and of corn, which wig somowhat higfier, only 45,000 bushels. Large sales of spices, pork, lard, bacon and tierce beef were effected. Mena pork closed at $14 62, and other articles buoyantly. Sugars, molasses, teas, coffee and rice were in less demand, but were held stiffly. There was considorable activ.ty in whiskey, wines, brandies, petroleum, tallow, metals, seeds and wool, with moderate transactions in most other commodities. The ocean freight market was firm, with a pretty good business roportod. The War—The Government—A Loud Call for Action! Action} What is the prospect? Is there any hope for the country? or is the chaos of Mexico to be our portion? Disappointments still attend us. Vicksburg tells substantially the same story as Fredericksburg—an assault by our infantry upon a line of the enemy's defensive works too strong to be carried by storm without a pre- paratory bombardment; the consequent repulse of our brave troops, with serious losses in killed and wounded, and the temporary abandon- ment of the enterprise. We apprehend, too, that the parallel between Fredericks- burg and Vicksburg will hold good in another respect. A month has elapsed since the return of General Burnside’s army to its position of observation on the north side of the Rappahannock, and there it still remains; and at least a month will most probably elapse before another attack is made upon the rebel stronghold of the Mississippi. This thought is extremely discouraging. With the defeat of the rebel army at Murfreesboro the premium on gold was thirty-four per cent, with signs of a decline; but with the news of the late Galveston disaster, superadded to the Vicksburg fuilure, gold rose in Wall street to a premium of forty-two per cent. This deprecia- tion of our paper currency will still go on while our fleets and armies remain inactive, at an ex- pense of two millions and a half of dollars per day. We must strike some telling blows upon the vital points of the rebellion before the re turn of spring, or we shall be cast adrift upon the boundless sea of universal bankruptcy— government, people and all. But if there were no financial embarrass ments to warn the government of the imperious necessity of instant and earnest action against the armed forces of the rebellion, there oughy to be enough to urge it forward in the simple fact that, by May next, the terms of service will expire of some three hundred thousand of our volunteers in the field. If we do nothing in the interval towards breaking up the armies and defensive strongholds of the rebellion we shall probably find the rebels next summer attempting again their programme of last August of a general invasion of the loyal States, from Maryland to Missouri. But weneed not go so far to establish, on our side, the suc- cess or failure of this war. If, with our present army afoot of elght hundred thousand men, and our navy, equal to another army of half a million of men, we shall acc ish no ernsh- ing victories over this rebellion by May next, the cause of the Union will be lost; for, if nothing else will then avail to establish peace upon the basis of two confederacies, we may prepare for the experiment of European inter. vention. Why bas the Army of the Potomac remained ina state of demoralizing inactivity since its repulse from Fredericksburg? It is stronger than the rebel army before it. The Virginia roads have continued good for transportation purposes, and if the heights occupied by the rebels are too difficult to be carried from the front they may be carried by a flank move- ment or from the rear. Take some other road, draw the ememy out, and fight him till his forces are captured or routed and dispersed. Do some- thing—do anything rather than persist in this rainous inactivity at this crisis of life or death to | ters in this city, in response to the following orde | the treasury, the government and the country. We call upon President Lincoln, as in a matter of life or death, to at once set our land and naval forces to active work, and keep them at it, East and West—not in petty and unimport- ant out of the way enterprises, but against the strongholds of the rebellion and against its principal armies in the field. Push forward to victory, and, when .a victory is gained, do not rest upon it for a month or two, and thus lose all the advantages obtained, but follow it up, like Napoleon, and gather its fruits in the active pursuit of the enemy till his demoralized forces are dispersed or captured. The rebel army of General Lee, in its pur” suit of General Pope, depended upon the chances of feeding itself from our provision trains, and, getting in the rear of Pope, suc- ceeded in capturing a large amount of supplies. Why cannot our generals, after a positive vic- tory, follow this example, instead of giv- ing the enemy time to recuperate, while we are collecting a cumbersome train of pro- vision wagons? If we could speak in a voice of thunder, we would thunder it in the ears of President Lincoln that “military success’ can alone save him and the country; that now is the golden opportunity for action; that he ha now the men, the means and the facilities of all kinds for a decisive wiuter’s campaign, but that a campaign of petty or half-way victories against great defeats and failures will never do. If the trouble is in his Cabinet, let him recon- struct his Cabinet. Let him cast all personal considerations to the winds, and look to the salvation of the country as depending upon this winter’s campaign; for upon its issues in the field depends the life or death of the nation. Chase's Mission to New York, The honorable Secretary of the Treasury ar- rived in New York last Friday, on an important financial mission. During his stay here he has held two or three financial conversatziones at the residences of Mr. Cisco, the Sub-Treasurer; Mr. Russell, the banker, and others; but, be- yond a little Wall street gossip and friendly in- terchange of opinions, absolutely nothing has been accomplished. Our Wall street magnates have been quite willing to talk, but not so willing to bring out their money. On the con- trary, we suppose that by this time Secretary Chase is jerfectly convinced that, with the un. important exception of a few special contract- ors, the bankers and financiers of New York are emphatically opposed to all his financial schemes, and will not consent to aid them in any form whatever. Upon his arrival at Boston to-morrow Secretary Chase will find the firan- ciers there of precisely the same mind. The capitalists of New York, Boston and Philadel- phia are united in regard to this matter, and with the experience of the past be‘ore us we cannot at all censure them for their want of Secretary confidence in Secretary Chase. When the honorable Secretary of the Treasury came to New York last year he made speeches to our bankers, brok- ers and editors, pledging himself that his department should be properly ad- ministered, that the war should be vigorously and constitutionally conducted, and that we should soon be relieved of any trouble about finances by continual successes in the field and a speedy restoration of the Union. Upon these pledges Secretary Chase was supplied with one hundred and fifty millions of dollars, our bank- ers taking*wme seven-thirty Treasury notes, which proved to be only the shower preceding the deluge of paper money with which the Secre. tary has since swamped the country. Imme- diately upon his return to Washington, Secretary Chase began to nullify his promises by inter- fering with the war and intriguing against the generals in the field. Our brief, bright gleam of success soon vanished, therefore, like a flash of sunshine on a cloudy day. Then, as if farther to complicate our affairs, the Secretary was foremost in pressing upon Congress the passage of the Confiscation bill, and upon the President the issue of the emancipation procla- mation. Meanwhile, unable to manage so many depariments at once, Secretary Chase allowed our finances to become grossly confused and involved, until now he can suggest no other remedy than another flood of paper- This homeopathic idea that “like cures like,’ and that the sovereign panacea is to make bad worse, will hardly succeed in finance, however well it may doin physic. Already, in anticipa tion of the passage of Mr. Spaulding’s bill, the Wall street speculators are ina high, flighty fever, and if three huncred millions more paper money be issued the coasequences may be most disastrous. It is evident, therefore, that Secretary Chase has broken all his promises and violated al] bis pledges, and our capitalists will not trust him again. As for the special contractors who are making fortunes out of the losses of others, they may dine the Secretary sumptuously and wine him deliciously; but that will put no money into the national purse. Either there must be achange in the personnel of the Cabinet and the policy of the government, and a Secretary of the Treasury must be selected who deserves and will receive the confidence of the capital- ists and the people, or else we must submit to another issue of Secretary Chase’s paper; and the result of that misfortune it is only too easy to predict. Cortovs Vinpication or Genera HALLEck BY His Frievps.—A letter appears in the New York Times of yesterday in which it is attempt- ed to vindicate General Halleck from the re- sponsibility of the Fredericksburg disaster after the following fashion:— General Halleck approved the route to Rich- mond by way of Warrenton and Gordonsville, which McClellan was pursuing. Burnside, when appointed to the command, objected to this route, and preferred that by way of Fredericks- burg. Halleck urged his objections, but said he would lay the matter before the Presi- dent. He did so, and Mr. Lincoln de cided in favor of the plan of Burnside. Thus General Halleck, who was appointed to the position of General-in-Chief for his supposed military knowledge and ability to plan cam- paigns, refers s purely military movement to ‘Mr. Lincoln, who knows nothing whatever of such matters. Well may General Halleck ex- claim, “Save me from my friends.” And as for Mr. Stanton, the Secretary of War, he does not appear on the scene at all, notwithstanding his former zeal for ‘the sword of the Lord and of Gideon.” Then when the change of base was decided on by the President, neither Halleck nor Stanton took the elightest interest in carrying out the plan. They utterly negleeted to send forward in time the pontoons, upon which suc- cess so greatly depended. The whole business appeared to be a matter of indifference to them. The auestion is, what is the use of Halleck. E.." country pay for a General-in-Chief and a Secre- tary of War who are not responsible for any- thing, and throw the whole onus of their own special business upon the President, who understands no more of war than he does of the Sanscrit? Republican Caucus on Cabinet Changes. None of our contemporaries have as yet touched upon the subject of the resolutions passed by the republican caucus of the Senate in regard to the changes which ought to be made in the Cabinet. The explanation of this reticence is very simple. The radical organs’ are amazed and confounded at the spectacle of ultra Senators, of the blackest republican school, marching in solid array to join the con. servative ranks, and once more keeping step to the glorious music of the Union. The radica political organs of the opposition school, which prefer party to patriotism, are no less sur- prised and astonished at this unexpected, bu neither unwelcome nor inappropriate, reinforce- ment of the conservative army. It will be by no means wonderful, therefore, if, when the organs of these extremists recover sufficiently to be able to express an opinion upon the sub ject, we shall find them agreeing to misrepre- sent the resolutions as an endorsement not of the conservative, but of the radical policy. The organs of Greeley and Garrison will adopt this course, in order, if possible, to force the republi- can Senators into a recantation of their new and sensible opinions. The organs of Vallandigham « Co. will strike the same note, partly because of party jealousies, and partly, perhaps, upon the Trojan principle— Timeo Danaos et ferentes dona. We are content, however, to accept these resolutions in the sense which they express and were evidently intended to convey, and we re- gard the demand of the republican Senators for a change in the Cabinet and in the whole policy of the war as one of the most important and significant episodes of the rebellion. These Senators, it must be remembered, represent more than two-thirds of the loyal States, and are supported in this demand by a vast majority of the loyal people. In England, when the House of Commons votes a loss of confidence in the Cabinet, the resignation of all the Queen’s advisers immediately follows. We have no such provision in the constitution’ of this country, and a change in the Cabinet depends entirely upon the will of the President himself. Certainly, however, when the Cabinet members are so pointedly informed that they have forfeited the confidence not enly of Con- gress, but also of the people, they should adopt the English custom and resign forthwith; or, if they have not the grace to perform so ob- vious a duty, the President should dismiss them without unnecessary delay. The fact that these resolutions were passed, not by the opposition, but by a caucus of the chosen representatives ot the political party which elevated the Presi- dent to power, before all political parties were merged in the party of the Union, increases the just severity of the rebuke to the administra, tion. We do not now stop to inquire how greatly the republican Senators have been re- sponsible for the evils which they now seek to remedy. We do not propose to chill the ardor of these new proselytes to conservatism by re. garding them as participes criminis, and their resolutions as State’s evidence against their former associates. It is enough for us, and should be enough for the President, that these Senators now agree with the general sentiment of the country in demanding a change in the Cabinet and a return to the constitutional con- duct of the war. The first resolution passed by the republican caucus says:—“The only course of sustaining this government and restoring and preserving the national existence and perpetuating the na- tional integrity is by a vigorous and successful prosecution of the war.” ‘his isthe simple, solemn truth, clearly stated, and was the origi- nal platform of Mr. Lincoln. But how far has the administration diverged from this “only course,” under the direction of insane fanatics like Greeley! How absurd do the schemes for restoring the Union by emancipating the negroes and colonizing the contrabands now appear! How imbecile and unworthy are those Cabinet members who have persisted in turning the ship of State from her only true course to wreek her upon the break- ers of a bedevilled philanthropy! The second and third resolutions state that, in order to “se. cure to the country unity of purpose and action in all material and essential respects, more es- pecially in the present crisis of. public affairs, the Cabinet should be exclusively composed of statesmen who are the cordial, resolute, un_ wavering supporters of the principles and pur- poses first above stated”—viz: that our only course is « vigorous prosecution of the war. This is most logical and most true, and the ar- gument completely condemns the present Cabi- nent. With the exception of Secretary Seward what Cabinet member can be called a states. man? Is it Secretary Chase, with his disar- ranged finances, his abolition intrigues, his de- preciated currency, his evident incompetency and his proposed plan of filling the Treasury by ruining the nation? Is it Secretary Welles, who, with a navy of three or four hundred ves- sels at his command, permits the Alabama to tule the seas? Is it Secretary Staunton, who, aceording to the report of the Fredericksburg committee, forces incompetent generals into chief commands, and then leaves them to destroy themselves and their armies, with- out even giving them the litle aid of which he and his General-in-Chief are capable, and who, having refused volun- teers when they were plentiful and attempted conscription when it was unnecessary, has now made no provision against the reduction of our armies by the return home of three or four hundred thousand men on the Ist of May next? Are these meddling, foolish, imbecile officials “statesmen?” Are they “cordial, resolute, un- wavering supporters” of a vigorous and suc- cessful prosecution of the war? Are they not, on the contrary, the clogs, hindrances, impedi- ments, obstructions and stumbling blocks of the nation? We ask the President to answer these questions honestly and sincerely. We ask him to drop the inevitable negro from his thoughts and purposes, as the republican Senators have from their resolutions; for he, like the Senators, must now be convinced of the utter failure of all abolition abstractions snd of the necessity of doing something practical before the country ia ruined. We ask the President to heed the wise words of his Senatorial supporters, and cast out of the Cabinet the Jonabsa whose oe and whose conduct invite misfortune and offend the country and the Almighty. The seme ‘oN \ od 4 ee oe Canc v| can save or destroy the republi. Let him act \ | Speedily and effectually, or, dismmbered amid the crash of arms and convulsed b, unparalleled financial distresses, the Ameriean nation, once the pride of the world and the hops of freedom, will sink imto anarchy and chaot the North warring upon the South and the Eat upon the West, and future histories will ieluctantly record that, ia less than a century, sfficial im- becility and cxrruption dragged this unbappy country from the pinnacle of prosperty to the deepest depths of sblivion. The War and Our National Finances in Congress. The speech of Mr. Spawding, 0¢ New York: in the House of Representatwes—puntighed in | yesterday’s Heratp—presents at once a wy important expose of our national finances at the | present time and a programme to meet the tre- mendous difficulties which surround the ques. tion for the future. Mr. Spaulding’s project of relief is understood to express the views of the Comittee on Finance, with a single exception; butit is antagonistic to the opinions of Mr. Chase, as set forth in his annual report to Congress. Mr. Spaulding’s exhibiticn of the actnal con- dition of our finances is remackably clear and intelligible. He shows that, before the expira- tion of the present month, a sum of one hun- dred and fifty millions is needed for the imme- diate necessities of the army. The troops, en- during all the hardships of war, have been un- paid for many months. Till the 1st of July— # period of six months—over $2,500,000 will be required every day, Sundaysincluded. Till July, 1864—a period of eighteen months-—over eleven hundred millions ($1,117,000,000) must be provided for in addition to the proceeds of customs and taxes. He estimates the debt as reaching at an early day two thousand mil- lions—equal to half the English debt. But at the end of the next two years, or at the expira- tion of the present Presidential term-—bofore which the war is not likely to be brought to a close—the debt will amount to four thousand millions, or fully as much as the debt of Great Britain, with the interest one-third more. How is this vast sum of money to be raised? The Secretary of the Treasury proposes to do it by two modes: first, by establishing a na- tional bank; second, by loans in some of the forms heretofore authorized by Congress. In reference to the first mode Mr. Spaulding con- tends that the proposed bill for the establish- ment of a national bank and the suppression of the circulation of the State banks would net only be unjust, but would not yield any con- siderable amount of money to meet the appro- priations for the current and next fiscal year, It is certain, too, that the banking interests in the different States are sufficiently powerful to defeat the proposition of Mr. Chase in Con- gress. Itis true that, following the example of Mr. Chase, the banks suspended specie pay- ment more than a year ago, and that of their whole circulation, amounting to $165,000,000, only the sum of $42,000,000, or about one- fourth, is secured, while the rest is insecured circulation, upon which those banks are mak- ing large interest without the investment of principal. But with such a corrupt Congress as the present the banks would have little dif- ficulty in preventing the passage of any reme- dial measure. Besides, there would be strong opposition to it in many parts of the country en the ground of unconstitutional federal inter- ference with “States’ rights.”’ As to Mr. Chase’s other mode of raising the money by loans, Mr. Spaulding contends that there is not currency enough in the country to meet the necessities of so large an expenditure. He doubts if a loan of $15,000,000 could be taken at this time for want of currency to pay for it. The gold and silver in the banks of New York, Philadelphia and Boston amount to about $50,000,000; the amount in all the other banks about $37,000,000—in all $87,- 000,000. The whole gold currency of the ceuatry, if it could be brought out, would only amount to $250,000,000. The whole of the secured curreacy of the banks is only $42,- 000,000, and even for that specie payment is suspended. Mr. Spaulding holds that such currency ought not to be taken for loans and put into circulation by the government, as its security is really inferior to that of United States demand notes, and the federal govern- ment has a better right to the benefit of the interest than the State banks. From the fact that Congress ten months ago authorized Mr, Chase to sell $500,000,000 worth of five-twenty six per cent bonds at the market price, and take payment for them in legal tender notes: while up to the present time he has got been ‘able to dispose of more than $25,000,000, though during the same period he has paid out nearly $250,000,000 legal tender notes, Mr. Spaulding infers that money cannot be raised in this form. What, then, does Mr. Spaulding, in the name of the Committee on Finance, propose? To issue three hundred millions more of legal tender notes, and three hundred millions of interest-bearing Treasury notes (5-47% per cent), besides loans amounting to $900,000,000, as proposed by Mr. Chase, in order to enable him “to borrow money in any of the ordinary forms, or, if exigencies require, to make addi- tional issues of United States notes.’” Now this is only repeating the medicine under which the patient has already become sicker and sicker every day. Mr. Spaulding observes, in reference to the legal tender notes, that he has a great aversion to any further issue of them, and can only consent to it as an imperative necessity. He says a larger issue will inflate prices; but he does not see how it can be avoided; for the troops must be paid and the war carried on; and the armies of the de facto government at Richmond must be whipped badly in the field before it will compromise or surrender. “The daily expenses of the war are enormous. The public debt is running up at a fearful rate. This state of things cannot be continued for aay censidera ble length of time without a public debt so large that it will burthen the preseat and future generations. The best blood of the nation flows freely. Large numbers are killed in battle; but more die from exposure and disease than in any other way.” What is th® conclusion at which the eloquent speaker aprives? “This war ought not to be procrasti- nated a day longer by divisions at home.” In conclusion, Mr. Spaulding asks why the gov- ernment has not been more suceessful in crush- ing the rebellion? He answers, “It was be- cause we needed more earnestness, greater determination, better discipline in the army, and a closer unity of action. Unless these essential requisites could be bad speedily be had very little, hope of crushing the rebellion. eriaia of the conflict is uvon us. The Presifent If the rebela ‘eonld maintain their military cee ae