The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-03

EN- States which passed statutes nullifyiog the
gitive Slave law; and that the contract "u'
broken on one side, Ia at all events less Dindhg
the other than it would have been had the North
observed it faithfully. 1t believed that in regard
to the actual secession Of State, the President
will refer to his oatt Of oice and to the obligation
he bears to execute the laws, including those for
the collection of the United States revenue In
view, however, of the extraordinary pc ition of af
fairs, he win probably congratulate Congress upon
being in session. and will refer the whole subject to
them, leaving it to their wisdom to devise the re-
medy required by the emergency. With regard to
the attitude Of parties, it may be taken for
granted that the Senators and represen.
tatives from the Gulf States will pre-
sent an unbroken front for secession such,
at least is the inference from the best information
that can be gathered at present. The delegations
from the Northern slave States viii probably be
less unanimous. In Virginia, North Carolina, Ken
lucky, Maryland, Tennessee and Missouri, there
is strong party in favor Of compromise and U aion;
we have reason To believe that the old line wings,
led by Hon. j. j. Crttenden, will take early OPP
portunity of coming forward with scheme, either
for the restoration of the Missouri compromise, or
for the passage OF a new Fugitive Slave law, which
cannot be interfered with by Northern Legisla-
lures, or for the enactment Of fundamental law
throwing open all the Territories Of the United
States TO Southern and Southern pro-
perry. How any Of these projects would be
received by the republicans Of New England
and the Northwest. the public have
as yet no means Of judging; it is probable, how
ever, that the distress which exists throughout the
North, and the natural desire OF the republican
leaders to enjoy peaceably the fruits Of their re-
cent victory, will have q tendency TO render them
more conciliatory and more pliable than they have
been. II is understood that the republican leaders
in this State are willing TO make great concessions
for the sake Of avertng the ruin that is upon US.
II is now certain that nothing short Of large and
liberal concessions by the North will save the
Union from destruction. Events prove that the
Southern leaders, SO far from being in advance OF
their constituents are really more moderate than
they, and that it will need great tact and skill, and
perseverance and energy, to induce the people Il
the cotton States to accept any new compromise, or
remain in the Union at any price. This de.
tie animation Of them may be founded on a wrong
basis; it may be calculated to prove as injurious to
them as TO us; it may be grieyous error in every
point of view. But, right wrong, there IT is; no
man can mistake it, and the question for the North
the exasperated people Of the South, we better
afford TO yield something, or to give up the Union?
Practical evils resulting from the former course
there none II isvery evident that the question
OF slavery ia the Territories is a mere abstraction
and that all the new States must be free States
As to the Fugitive Slave law, honest man doubts
that the South is entitled to one, that ii is mean and
dishonest for Northern Legislatures TO nufyit, and
that its practical working Involves no real injus
tice. The North, therefore, can afford to concede
all these points without losing anything that is worth
preserving. II, on the other hand, the republi-
cans Of the Northwest and of New England should
refuse TO yield, and the Union should be dissolved
il is well that the consequences should be calmly
considered beforehand. That they would be pro-
ductiye Of incalculabe injury and suffering in the
South is undoubted and the Southern people avow ,
themselves prepa cd to suffer. But it is fatal mis-
take TO suppose that the North would no. be equal
ly injured by the event One can Judge of the
effect by the state Of affairs now staring US in the
face Business Frustrated. There is no market for
merchandise Of any kind. New York is fall OF mo-
noy, but confidence has disappeared so thorough.
" that capitalists will not buy the best paper under
IA per cent q month. II is supposed that
ten thousand men are out OF employment
In New York alone, and there is not q
establishment in New England
which has not reduced its force within the pa,t
month The West, just reviving from the effects OF
1857. and on the eve Of new era of prosperity, is
replunged into distress and suffering. AL the West
ern banks are practically insolvcns-their issues
seven per cent below par. The great trade in
food they expected to drive with the South this
winter has vanished, for the suspension Of the
Southern banks has deprived them Of the only
means they had TO buy corn with. Throughout the
North, in fact, prostraton more disastrous
than that Of 1857 already reigns. This, be II re-
is only the beginning of the struggle.
II il continues, and the North, by refusing con.
cessions, encourages the cotton States TO perse-
we're in their purpose Of secession 1t is hardly pos
sible that war can be averted. The West cannot
afford to lose the mouth Of the Mississippi; the
South cannot afford 10 suffer II to he in
the hands Of a foreign Power. The partition
Of the Territories, Of the public property
and OF the public debt, can hardly be effected
by the pen. Such questions have always been set.
led by the sword, and we cannot expect to furnish
IN exception 10 the rule. Civil war Is in word,
Inevitable, If Cancellation does not prevail. OF the
ruits Of civil war We need not speak. They are
otal stoppage of trade; cessation Of all kinds Of
Industry save for the supply Of the most imperious
wants; the blockade Of ports; the bombardment |
II cities; the destruction OF human life by whole
'ale; the creation OF vast national debts; dini.
,ution Of one-half the product Of agriculture; a
general decentralization Of the public mind, and,
however the conflict might end, the sowing Of ran
,ours and hatreds which ten generations would no,
sface. This is the inevitable prospect il the
Northern politicians, who meet to.morrow at Wash
ngton, meet the crisis with obdurate hearts and
blind Indifference to the demands OF the South.
CITY COMMERCIAL REPORT.
SArvxDAy, Dec. l-6 r. n