The New York herald., 1862-12-01

ance. Nsat-
II the men who compose the great council o
the nation-the members of the two houses Of
Congress that meet at noon to-day in the Cap
tol at Washington could realize she magnitude
Of the responsibilities )devolving upon them
they would enter upon their duties with no fri
volous, selfish or partisan views, but with a
gravity and seriousness becoming men on the
result of whose deliberations hang the destinies
of the republic. We hardly dare to hope that
even in this hour of national peril. our Senator'S
and Representatives will find themselves capa.
bic OF rising above the petty intrigues and mar
row views that usually ensross their attention,
and of conprehendng the vastness of the inte-
rests which, for veal or for woe, are to be
affected by their action. If we could iatter
ourselves with tie hope of their doing so, the
opening of this session OF Congress would be an
occasion for public rejoicing.
There are four subjects of paramount import
ance which demand the earliest and deepest
attention Of Congress These are. in what way
the possible inter yention Of European govern
ments in our domestic quarrel is to be treated
is to be made of the Presidents proclamation
declaring the emancipation Of slaves in all the
rebel States on and after the lst of January
next; what is to be done with the ConGscation
act passed al the last session. and-perhaps the
most important question OF all-in what mode
our absurd 6nancial system is to be modified,
so as best to preserve the national credit, sup
py the Treasury, and disembarrass trade and
commerce Of the evils and Inconvenience to
which an undue expansion Of paper currency
has subjected them. An infinite number of
minor questions many of them dependent upon
these main Ones-have also to be disposed Of,
the judiciOus attention to all of which will fully
March next, when the Thirty seventh Congress
comes to dissolution.
1t may be that the contemplated interference
Of France and England with the efforts Of our
government to put down the great rebellion is
not. strictly speaking, matter for Legislative
action. but rather question to be met and dis
posed of by the executive power of the coun-
try. But still it will not be considered on, of
place on the part Of the national represents
tives to give authoritative expression to the
public sentiment in that behalf, either by way
OF joint resolutions or by the passage of mea-
surss calculated to put the country in position
of defence against all foreign enemies. The
pursue on this subject will be at once an init
nation to France and England Of the reception
which they may expect for their peace over
lures, and guide for the President in case such
propositions should bs actually made. We ex-
pect an interesting asd important discussion of
the question by Congress as soon as it gets re-
gularly to business.
The disposit,sn to be made Of the Presidents
proclamation Of emancipation and OF the Con-
fiscatiOn act OF hast session may well be re.
gsrded as involving results of the utmost mag
nitude. Both questions are to be resolved in
the same way and on the same general prn-
ciple. If concliasion. practical wisdom and
consideration of these questions, the greatest
obstacle to a restoration OF peace and union
may be removed. II ianaticism, folly and party
platforms shall prove stronger than patriotism
and good ssase, then We must only look for a
perpetuaiior Of hostilties until the power and
patience of the North are exhausted, or until,
by the red right hand of war, the South is tho
roughly crushed and subiugated. As neither of
these alternatives is such as any patriotic mind
can contemplate with satisfaction, some modi-
fication, suspension or annulment OF either or
both of these measures must suggest itself to all
pracsica minds. 1t will be for Congress to
give form and direction to the sensible. views Of
the community on such points.
Last in our order of subjects. though occupy
ing the foremost position in ts- effect on the
great struggle in which the country is engaged,
comes the question Of = national system of
finance. The depreciation Of government Gre
dit-seen in the difference Of seme thirty per
cent between gold and Treasury notes-is the
strongest argament against the financial system
adopted by the Secretary Of the Treasury. AS
money constitutes the sinews Of war, it is impe-
ratively necessary, If we would succeed in war,
that we should possess the most healthfal and
vigorous monetary constitution. That we have
not now. That we must have, or give up all
idea OF crushing the rebellion That il is for
Congress to give TO the couatry. Whether
there is wisdom enough and business knowledge
enough in that body to comprehend thoroughly,
and TO decide sensibly, this great question of
finance, remains TO be proved. We confess that
our hopes in that regard are not very sanguine;
but we will not condemn in advance. The re-
suit Of the recent elections may inspire Congress
with little more prudence, GOODNESS and dis
cgetion than that body has hitherto evinced;
and there is, therefore. some ground for hope
that the session which commences to-day may
prove Of real permanent advantage to the
country.
The ELECTION FOR CORPORATION COUNSEL
The Office Of law adviser TO the Corporation is a
very important one. He not only explains the
law 10 the Mayor ard Common Conncil but