The New York herald., 1862-03-22

bail TO await the action Of the Grand Jury.
Valentine Mazzini was fined $3.50 by Judge Ship
man yesterday for contempt of court in disohey-
ing an injunction order-s5O0 to the parties COM
planning and $3.50 to the court.
The stock market duh and the speculative list
lower yesterday morning. chiefly in consequence OF the
want OF news; but better in the afternoon closing
very steady. Governments continue in steady demand
Gold was unchanged in price, and rather active Ex
change was very dull bankers rates, 1llH liz Tor
sterling, and sos $40 for francs. Money was fairly
active at a per cent on call.
The cotton market exhibited frmer tone yesterday
and holders manifested confidence. bid Of 2TIc
was made for line of 500 bales strict middpg uplands
and refused. The influences brought to bear upon the
market and the depressed prices during the week proved
Intellectual The sales embraced about $50 bales closing
buoyant on the basis Of 27c per pound for mid
ding uplands. The -four market was rather frmer
while sales moderate and chiefly to the home trade
Wheat was inactive and prices irregular. Corn was
rather rmer with sales of Western mixed at 5Sc Soc
in store, and at Gle. delivered. Pork heavy with
mited sales Of at s13 90 and OF prime at
$40 e2h $40 rs. Sugars were steady though less
active sales embraced about 450 hhds Cubas rates
given in another place. Coffee quiet though steady
eSpa lot Of Jamaica (25e bags) sold at 2oac sale
OF 500 pounds chckory was made at &c. Freghts wero
rather frmer, with more Offering.
The Demands OF the Crisis and the Short
comings of Congress.
Under the wise, conservative policy Of Presi-
dent Lincoln, and in pursuance of the compre-
hensive military plans of General Mcclellan,
our brave defenders of the Union, on the land
and on the water, in rapid succession of de-
cisive victories, have expelled this great rebel
.1c
defences, and have reduced JEFF. Davis and his
vagrant government to the last extremities of
confusion and despair. Nor can the shadow OF
a doubt be entertained that, with our over
whelming land and naval forces, as now organ
lied, equipped and disposed, the final over
throw of the rebel armies, from Virginia to
Louisiana, is close at hand. All that we have
achieved has been done under Mr.. Lincoln's
policy of "masterly inactivity" on the slavery
question, and it has succeeded and is succeed
ing so beautifully that no honest Union man
can wish to see it disturbed to the end of the
war.
Meantime, however, in looking into Congress
we do not find that cordial cooperation with
the administration which is desirable upon this
point, of letting Southern black slavery take
care of itself until we shall have suppressed
this Southern white rebellion. A very large
proportion Of this session in both houses thus
far has been expended upon impracticable
and visionary abolition schemes and projects in
reference to the black slaves of the South,
which could havebeen much. better appropri-
ated to the consideration Of the financial and
commercial difficulties of the country. The
special message of President Lincoln on the
emancipation problem puts this whole question
of slavery upon broad, constitutional basis, to
which no patriotic politician or citizen can OBJ
ject The adoption of the Presidents sugges-
tions by the two houses of Congress is all that
is needed to put this disturbing slavery agita-
ton at rest, at least to the end of the war; for
until we have an end Of this war, we cannot
imagine that any slave State, even of the bor-
ders, will be sufficiently re-established in law
and order to legislate in favor of emancipation
The Presidents emancipation message, there
fore, may be properly construed as delicate
appeal to Congress'to suspend the agitation of
the slavery question until the end of this war;
and we trust that this Interpretation will at
once be adopted by the two Houses. There
will be vast amount of work yet required to
perfect the great Tax bill of the House Com
mittee of Ways and Means before it can be-
come law but no time should be wasted upon
abolition distractions, when every individual
in the country is anxious to have this question
of taxes reduced to dollars and cents. In the
next place, this rebellion has broken up and
disorganized our commercial and all our busi-
ness affairs TO that ruinous extent which can
only be repaired by general bankrupt law !;
and then, again, in order to harmonic our
duties upon foreign imports with our domestic
taxes. resulting from this rebellion. "a complete
revision Of the tariff is demanded. Such bill
is under way in the appropriate committee
room of the House, and will soon be reported ;
but in the mean time there is other needful
work required upon our financial and CONNER
cal affairs sufficient to justify complete sus-
pension of the discussion Of abolition abstrac-
tions.
The bill for the abolition OF slavery in the
District of Columbia it is true, proposes only
the exercise on the part of Congress of a clearly
expressed constitutional power; but. such be-
ing the case, We see no reason for lengthy de-
bate upon the subject. The expediency of the
act, if proposed two years ago, would have
been q very serious question; but it matters
little now whether slavery is abolished or re-
tanned in the District of Columbia, for in all
the border slave States the removal of this pc
cul;ar ;nstitution will becone The frat consider
alton with the re-establishment of peace We
have had enough, however, Of slave conisca-
ton bills, and bills for the reduction Of our re-
bellious States back to the apprenticeship of
Territories, and little too much of such phi
lantbropic schemes as the colonization Of con-
trabands in some new Liberia, and their en-
ployment in government cotton planting on
the abandoned sea island plantations Of their
rebel masters; and we apprehend, also, that