The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-14

DANGEROUS STATE OF AFFAIRS IN THE CouN-
TRY.-The reports from Wall street in the CON-
mercial columns of the HERALD, which are the
only fair and honest ones published, represent
the money market in very remarkable and seri-
Gus condition, and a great deal of alarm existing
among financers, arising out of the position of
Congress and the country on the political ex
element between the North and South. We
are informed that the interest on private loans
on good securities is now eight or nine per
cent, and that several failures Of rather re-
markable character have already occurred.
Owing to the dead lock in Congress, four mil
lions of dollars are locked up in the Sub-Trea-
sury-money which is drawn out Of the market
and put to no use whatever, but which ought
to be applied to paying off the debts OF the
country, and put into circulation in legiti-
mate way. Judging from the state Of affairs at
Washington, the House is as far from being
organized now as it ever was, and the proba-
bility is that we shall witness very serious
financial reyulsion during the spring, summer
and fall--the result not OF commercial disaster,
but of political agitation.
There are two causes for the present dead
lock in Congress. The first is the obstinacy OF
new faetion-the abolition republican party
in supporting for Speaker a man tainted with
anti-slavery abolition opinions in the most out
rageous fashion; and the other cause is the
obstinacy of three old conservative parties in
the House-the democrats, the South Ameri-
cans "a remnant of the old wing party and the
anti-Lecomptonites--i refusing to unite upon
some one national conservative man, which
they could do in five minutes, and thus elect
Speaker and organize the House. They have
majority; but instead Of combining it against
the obnoxious anti.slavery candidate and thus
ending the disgraceful scene now being enacted
in Congress, they prefer to be influenced
by mean, contemplate prejudices, to quarrel
about old contests, and to indulge
in petty, miserable jealousies, while the condi-
ton of the country is approaching fearful
crisis, which no man can view calmly without
alarm and sorrow.
The South, alarmed at the recent assaults
upon her rights-the John Brown raid, Helpers
book, and the language and action of the North.
ern republican members in Congress pre-.
pairing itself to form separate confederacy,
and is driving out tarring aud feathering, and
otherwise exercising its indignation upon every
abolition agi,ator found within its borders.
while the abolition leaders at the North, on the
other band, are infaming the public mind, fore.
boding, threatening, sanguinary war between
the North and South. No one need be alarmed
about that, however. There never will be
warfbetween the two sections, North and South
If war comes it will be between the abolition
lists and the conservative and commercial
classes at the North itself; it will be bloody
internecine feud, direfnl civil war within our
own borders-in New York, New England
and the Central States-while the South vii
enjoy profound peace, because it will have SEN
out all the dangerous abolition agitators, and
there will remain bait one harmonious element.