The New York herald., 1862-02-03

strains in the halls Of Congress day after DAY and week
after week. Ii be wondered that the univorsal
mp that the party could not Geal with practical
question. The national Treasury relief, wide
Guh before the nation stood upon the verge OF
the precpice, liable ~ any plunge into the
abyss. The people the danger, and bcsought their
representatives 70 prepare mode OF escape The only
CRY that from the halls OF Congress response
emancipation and the slaves. Again the people
cried for relief Having given their 0rst born aud their
try they offered their worldly goods, bu, called upon
Congress TO provide their way 70 II; but still
they played their tunes aud their songs to the strains
Of the anti slavery harp.
me danger increased no mode Of relief suggested
by those whose duty il was TO provide IT, Seeing no
hope the Legislature OF the Empire State stepped in and
tsndsred counsels. Its members, fresh from the
people, elected at the time that the wisest men OF
The state saw the clouds thai foretod the financial
storm preparing, ready to grapple the question
and come 10 the The COMMITTEES OF Ways and
Means prepared plan, and, with unanimous report,
asked for M endorsement by the Legislature The pre-
ssntation of this plan brought up issues: eiu
GATED in the financial school Of the old whg party looked
upon In light and those of the democratic Rsncial
school IN another, and hero the warning elements met
and wrested with each other like giants. The progress
q the struggle was watched with intense interest
There were sixty i've members who for several years
have been srdan worshplcrs IN the republican party
believing In its anti slavery crcei and subscribing 10
covenants; against them sixty two who until this
year had offered their sacrifices upon the democratic
altar The republican party proper the majority
nut m all the questions that they had been c,e man
70 consider the formation ~ the party were
theoretical this was the nrst time that they had
called upon to act upon practical question, and tbs
She practical question Of finance. This the
and the people OF the State looked with marked IN
forest. No had the debate opened tnsu 1t was
seen that the party divided 10 it's conses the negro
being laid the shelf their Old principle aud des were
uppermost for each wing adhered principally to orig
nal financial sdncatoh Extended credit, or pay you
TO- we're dividing lines bu, was manifest that the
PARTY as party. unable 10 agres upon settle
plan that would meet any aud all emergencies u this
country.
state have been called upon leave their horse Theory
and take hold Of practical things aud the finances Of the
country and how have they handled themt The DEBATE
Was lengthy and exciting; all the speakers oD'
side were theoretical and relied wholly upon
faith, with the exception OF Raymond, the maete
spirit OF that side of the House. The othc
side generally practical, large portion OF TN
speakers handling the question upon it's financial merits
The straight democrats did participate IN the debate
but stood looking ready for voting leaving the repub
hcans and Union democrats TO do all the talking. Tb
substitute offered by those OF the old whig nnancis
school finally modified by The mover Of hstn tha
about the only difference between set Of rssou
ssose regard 70 making the Treasury notes ega
tender The vote having been reached the substitute Of
sssd by Raymond received ia The OF the who'll
sbrty nine vbsn before the Huusc and on The On,
q yeas ant nsye ihsy received 'orty.ihrss vosss o