The New York herald., 1862-01-31

same way would have done IL Il had at once establish
cd national paper currency Now however II may well
plead necessity for tho course which il adopts, and
remonstrance will be vain. With empty exchequer
no course remains but to issue Treasury notes. The
results, however, 1t will not be difficult ~ predict
Whenever one in the country will find himself forced 10
become the creditor OF the Sate by the receipt Of notes
a Ss Hss many %
fecty powerless to do The army will bo required to
be clothed aud fed but for their clothes and food they
will be only able TO offer orders on the Treasury which
cannot be paid in specie. Then will deprecia
ton with all IFS attendant evils But where will stop
an Is as sy %pSssss s, 3 sax Ssssa a. a as s %
risting state Of american fnanee. What strange tale
does not e history of the United tho past
twelve months unfolds What striking moral does not
point. Nerer before the cord daxsled BY Of
more reel less extravaganza Never before did fo,ishna
and prosperous STATE make such gigantic strides towards e.
fectsn9 i1 o'os ruin
The ChancelIor OF the Exchequer ON the
War.
MR.. GLADSTONE ON SECESSION AND THE VISIT or THE
PRINCE OF WALES.
From the London Post, jan 14.l
Mr.. Gladstone laid the foundation stone Of new
sHEA for hs Of 81
crowded audience in the Assembly Rooms where hs was
who received with loud prolonged cheering, and
wng Of hats and handkerchefs by the large audience,
proceeded TO address the meeting.
In the course Of his speech he sadPermit to say
that with one exception, 10 which may advert, 1t Is
also the happy Of Great Britain TO sand-so far as
at least able may to udge-n the the hap
piest position in the best relations Of amy and good
will with the other great countries Of the world Zap
plause) Of course when speak OF one special ease
which do not speak OF exception, because am
justified in saying that still have relations Of good
WILL and trust we may have relations Of strengthening
good viii with our neighbors across tho Atlantic
(cheers)-yet of course l refer to the recent
anxieties with regard to tho relations of this
country with America. heartily wish it we're in
power to exhibit to the community of the United
States the precise and exact state of feeling that has
subssted in this country evS since the beginning
th0t
tae'n and threatens lis peace and prosperity (Appause
do not believe that at the time when that convulsion
commenced, there man in every thol sand in
this country who had any sentiment whatever towards
the uuited States of America except the sentiment of
aectonate and sympathzlng good wiil-(applause)-or
who felt anything but desire that they might 90 on and
prosper and finish the work. whaoyo may have boon,
that Providence had appointed them to do (Applause
Sir have not the eas. scrupls in saying for myself
that my opinion is not only that Englnnd had nothing
fear from the gro,th of the United States of lraerco but
that far had selfish interest al all in lte matter.
that ne Ameran Uniem should continue
uaditurbed. (Applausc.j Our forefathers had known
the pangs Of national ACKNOWLEDGMENT. This gallant
country after long struggle had submitted what
they then regarded as g. cat calamity, but what
have since discovered to be, under tho circumstances
plshment of q normal process Of nature her.
self. (Applause) Yet, though universal good
America in this country could not help forming an
opinion upon that terrible and frightw convulson when
it occurrod and there ia no doubt Of the fact
pretending 10 reveal secrets to be Interpreter
public opinion than any othor man-bu there Is no
doubt think the fact that tho thinking men of this
country did como to conclusion that in a srar h
had ced Me party tphich apparently the sronser
had committed itself entTrise Vhich ooud probably
irove to be enhreiy tsyond their po.oe-s (Chsers W.
there military undertaking of tremendous difficulties.
and military undertaking which, If IL could be successful,
orFd only t the faee and e introduction foliicai
difficulties far Qytater than TIE military dilfttes OF
ne i,sI. (Appanso) Now, am afraid that when
this opinion cam0 TO be prevalent in EngaDd--the
opinion that this war was war TO b, lamented and 10
be deprecated and likely to result in great mis- ,ry great
ei,sion OF human blood enormous waste OF treasure.
permanent estrangcinent and bitterness OF feeing-l
afraid tho formation o. that opinion, though IL was
coDscicntiousy formed, deep obence 10 IL: people
many persons at Least, the United States Well there
is n, doubt know that in private life tho samo thing
constantly happens IL constantly haplons that when
is engaged with his whole heart and soul upon
enterprise that lie thinks vital his well
being. and when some other person Is know tO have
said that he thinks tina. enterprise had much better not
be undcrak great offence great ritability, great
spite OF the inclnatons Of men themselves, in which
there l. pretisposton to quarrel and TO contention
bc.evo that Is true and fair description tho whole
Of the state of thugs between England and Amer
the time when that which is now well known as the
Of The Trent affair occurred, and produced pro-
found a sensation in this country. When that case
Oh the government to use thoir very best
exertiors, above all and before all, to .ex-
had beon mistaken In our wow the facts and the law
hold that whatever our inciinatons might DO TO
isiort facts but to pay strict obedience 10 laws aud
especially TO those laws prevailing between nation and
nann, the creation Of which is OF the grandest
suits Of modern civilization, and tho maintenance OF
which is vitai necessity for every people in the world
(theers) But having used the bost our
lower 10 inform ourselves, we made the demand, we
made the application To the American gov fn,cnt which
to the country. You all know also the
Of that application tCheers) Now. what earnestly
sion that the Americans have made. (Appause) Don't
Ii US ts 'emltei % criticize IN a" unf,edy sirV any
yorsicn Of their proceedings lie. haps II there i
any one individual that might bo tempted TO criti
else their proceeding IL Is The chancellor OF the Exche
Why did they not give up scssrs. Mason ard sdo at
once, without waiting for the demandl' Well, now,
think am the person who nave perhaps the bcs, right
pu. that question; because undoubtedly, Il they had
ciycn p Nessls Mason and Sidell al toiho troi
ia for or ncpd IL uod hare sdued all tie rdrious ue
gumeris Of hs So,e great dsalf ropJie, ond wouh
Lpc ,noLd M % yrexnt ne cioe or ne fnanci,y year
toi0ncs sheet 'lirely sl.t7octoryt tapplause)
lhan possibly though do not desond with respect to IT,
but certainly satisfactory thal possibly may
De In my power. (ippause. Bat horc that question
won't be putt trust no such qccsiion viii DO putt
trust uothng will be said and nothing will be thought
tis country abo prcvious questions and the old e,ntro
vcrsics III. The Americans. (licar hear and rppaass
cndeavor 10 look at their conduct in generous
spirit. We have formed opnisn with r. spec.
10 this tnn necessarily am afraid we have formed
Il cons, enotsy but AIN Aft aid that cf necessity il
prod, ces susceptibility ia America. DO let us add
:, Ina, Susceptibility by nduging ia anything tlat we
can possibly AVOID, and which in,y bcccn,e further
cn1ses a. tie Lright side IF 'hqi ohich The Amricons
h,rs done. Gsd ossurediy triehl sue ia Lei 90
Jcck tie nuren, rhea us Primo: Of Uoirs ofqcr,d in
tit t' Nltes ~ tIn F"-it sNtt ~ tie moo
sand b, the tea hogcaa by he hundred hnisand toopei
facahe cm all parts % gise him WsJon,, ealHsi
a,,ic as o,ricpyl preceding fnm ne d1ts # he hertas
ftisse &C countries had sill teen Iort9Rs te dosiioJs
.foio QUEEN (Chcers.) let us look TO tue fac, that
they ale OF necessity aspcope subject TO the quick
aud vehement action OF opIf on, labs to great
public excite emeni, Intensely eager upon the subject
tf IN. war IN which they engaged naturally
raised 10 a high pitch of exuitaton by hearing
that one Ct their vessels Of had lii hold upon
tho commissioners Of the southern States, whom
they regarded simply rebels Let look 10 the
act that tho MIDST oi that cxutation, and IN country
whore the principles OF popular government and Of demo
crazy carried To extremes that even there, in this
tate Of struggle for life and or depth thcy think " 70
re: that even there vhe ebuiiiiions taking placs
~ over bc country OF Joy and cxuaton at this
urc that u there, this popular and this democratic
government has under the demand Of foreign fOwer,
written these wordsor they the closing words Ia
the despatch ol Mr.. Sevard"tle four commissioners
viii be chocrfuly liberated" loud ehceis) Let
take those words, say, without minute criticism upon
anything that may have passed at former t.n.s and
MAY have been open to difference " Wow. Lot
co,t them with thanduness 10 the Almighty for having
reno, II an apparent OF deadly collision IN which
the Of tho people Of this country united