The central Presbyterian. [volume] (Richmond, Va.) 1856-1908, 1862-10-16

Europe. Ny Information Is, and tlluh re-
liable, thas Wall Street, contrary to its
former status, is now for pence.
Capiselists advocate, it IS said, terlnina-
ton of the war. 1t IS certain they have
hitherto upheld the government financially;
aud that without their aid the war could
not have been prosecuted. They have here
tofore insisted upon a prosecution Of the
war, believing it would be productive of a
restoration Of the Union-s result which,
if accomplished speedily, might assure to
them the advances they had made and were
making to the government. They see that
this cherished result can never be accom-
plished, ard that the continuation of the
war but increases the public debt, thereby
impairing the security for their advances,
and hence they advocate peace. The for
eign journals, In view Of the daily leyeriSh
and fac.uati0g state of the money market,
the constant and permanent increase in the
value Of gold, aad consequent decrease IN
the ya.Ce of paper money; the issuing by
the governments Of millions upon millions Of
paper money, until it threatensin amount to
equal nearly the whole indebtedness OF the
Governments; the increased and constantly
Increasing amount OF Imports, with no ex-
ports TO pay for them, and the uueXampled
rate Of foreign exchange, confidently pre-
diet the crash to which have alluded, and
assert that its occurrence viii deprive the
Federal Government Of tie capacity longer
to wage the pending war. A domestic debt
may be dealt with without gold, but Tor
eign debt must be paid in thas medium-an
advantage the Confederate Governments in
this instance possesses over her ADVERSE
~. "Slreet are tie uses q a9rsrsiy.'
These considerations, thus briefly stated
Of themselves, tend very strongly 70 sup
port the correctness Of the opinion have
given You. But there is another which
leads me mere strongly to believe that the
var cannot be long continued. l might
have added to what have already suggest
ed, the fact that there is an abiding cont
deuce. on the part of many of the North
eru soldiers, that there will be no more
fighting between the armies Ct Lee aud
Mcclellan, and a correspondent desire
there shall be no more, Ayoung COulele-
rate Captain Just arrived from Gen Lees
headquarters, Informs me that the whole Of
McClellau'5 army, with the exception Of
some few troops stationed at and about
Harper's Ferry, yet occupy he position in
Maryland, assumed shortly after the bat
tie of SharPsbury, and no purpose ia maui
tested to advance INFO Virginia. de says
that conversation Frequently occurs between
the troops on opposite sides Of the river,
and that the Federal troops constantly an
nounce to the Confederates that they nave
no expectation Of any more fighting be-
tween the two arGies.
But the consideration to which l have a.
luded is the state Of political feeling that
is known to exist in the North between the
so-called radical or abolition party and the
conservative or CID Democratic party, with
its allies. 1t is knoan that war is now in
progress between these parties, which fur
bitterness and rancor is unexampled in the
history Of party conflicts, in this country; it
is waged on either size ayowedly Cor poit-
ical determination. If the conservatives
succeed in this struggle, aud &c. the con-
troll Of the government, the purpose is al
ready announced 70 crush ont tbe radicals
or, 10 the polite Phraseoogy OF the day, not
10 }cacs q grease spot o. tt,m-ana no dOoot
similar kind aud aUiable sentiments sre
entertained (if not expressed on their part
towards the conservatives.
Every effort was made prior to the nomi-
nation Of candidates, 70 accommodate the
difficulties between JUem, ana produce con-
cert Of action in the prosecution ct the war,
but without success. The consery atiyes in
sist upon conducting the war, only il tho
exercise Of powers authorized by the Con-
s,itution Of the United S.s.es. The radi-
Gals insist upon conducting 1t 10 the exer-
else Of any powers that will accomplish the
end in viev-tbe suppression Of the reYo-
luton; that the Consultation sh8.. De uu-
needed and imperative until tina: result Is
accomplished. When the nominations in
New York were fsst made the Herald
announced that Seymour, the candidate OF
the conservatives for Governor, would be
elected bv an overwhelming majority over
Wadswortn, the candidate If the radicals.
In the issue Of that paper on the 4th, it Is
suggested that Seymour may be defeated by
the use Of the superior financial means Of
the radicals, and TIE exercise of the powers
which the late surrender Of the govern
ment into their hands by Presiden, Lincoln,
and the late order from the War Depart
ment, providing FIR the appointment Of
Provost Marshuils in the sO-called loyal
States. puts a5 their commard. This order
PROFESSIONALLY provides the powers for the
establishment of an unmjtigated military
despo.ism. The 'Herald" Ct the 4.b, ale
ges that She success Of Wadswoyth ia TIE
coming election will be the signal for the
establishing in the State Of New York, over
the conservatives, of this despotism in al
its riEor-and predicts that Ia q short time
after such success, there will be scarcely a
prominent man Of the conservative party in
the State ont Of prison. This state OF
taiugs is confidently anticipated By num-
bers, and there IS firm aud widespread
determination lorcibly to resist the 6rst
effort to establish it. Ia view Of all the
circumstances that Surround the case, !
csun5t see how a corf ct Gao be avoided.
This is the decided opinion Of many iutelii.
gent men, well informed upon the subjecs,
with whom l have conyersed. An inteili-
gent gentleman, who travelled through the
State of New York when the meetings were
being had, preparatory to the nominations,
~ formed vra fhot tho conservative marty