The New York herald., 1862-01-05

NECESSITY OF GENERAL BANKRUPT LAW
We yesterday adverted to the duty of Congress
to provide the relief of general bankrupt law
for our commercial and business classes OF all
descriptions, prostrated by the unforeseen dis
asters arising from the rebellion. That Con-
gress has not already done so is the plainest
proof that it has no practical statesmen who
rightly appreciate the crisis in which the coun-
| try is placed and know how to discharge the
duties OF the hour. The measure is desired by
| the people in general and by the great body OF
| the mercantile class The rights and interests
| which may be affected by it can be fully pro-
| tected by the establishment of q uniform sys-
| tenn throughout the United States, founded upon
such provisions as will relieve the honest but
unfortunate debtors, upon the surrender OF their
property and an equitable distribution of the
same among their creditors without preference.
A committee of leading merchants and bank
ers, representing the commercial interests OF
the city of New York, have caused the prepare.
ton by eminent counsel of General Bankrupt
act in conformity with these views and sub
mitted the same to the Congressional committee
of Representatives at its last session. 1t is
strongly suspected that some of those mer-
chants who appeared to be active in promoting
the bill have secretly killed it with the COM
mttee It is the interest, of course, of a few
strong millionaires to monopolize the trade OF
the city, and keep those who have broken down
out Of competition with them. 1t is the inte-
rest on the contrary of all honest bankrupts
to return to business, which they cannot do as
the law now stands. 1t is, moreover, the inte-
rest Of the general community to have as much
competition as possible in every branch of
trade. We hope, therefore, that the Congress
sional committee will report law as soon as
possible. Practical measures such as this and
the finances of the country are the real busi-
ness of Congress, but deplorably neglected for
visionary theories and discussions about the
abstract freedom OF the niger.
The ENGLISH PRESS On THE STONE FLEET
A leading London Journal has denounced the
blockade of Charleston harbor by the sinking
of stone laden vessels as an act of Vandalism
which is an injustice to the world. But this as
sertion is only in keeping with the general tone
Of that organ Of British opinion towards the
United States since the outbreak Of the present
war. The allegation that we have destroyed
the commerce of the port for all time to come
is simply false, and affords another instance Of
the unscrupuousness of the English newspa-
pers in discussing American affairs and more
especially since the capture of Mason and Sill
deli.
II VIC have closed one channel we have
opened another and deeper one to TIE same
port. That Of Port Royal has depth Of thirty
feet. The blockade by sunkcn vessels is not
without precedent as our contemporary would
make believe. It will be remembered that
Russia, during the Crimean war, sunk number
of vessels in the harbor of Sebastopol and else
where for that purpose, although in other cases
the object Of sinking ships was doubtless to
prevent their being captured by the Allies. AS
for the destruction involved in the proceeding,
it is purely imaginary; but it would not be diff
ficult to point to events in English history which
are chiefly remarkable for the wanton destruc-.
ton which attended them-that, for example, O.
the scutting and burning of the ships in Co
penhagen Sound. England has certainly no
cause for self-congratulation, either on the
score Of forbcarance or humanity towards her
enemies. She has often inflicted wilful injuries
upon those who were comparatively defence
less. and where her own interests we're at stake
she has hestated at nothing. We, on the other
hand, can show a much clearer record, and we
maintain that the blockade of Charleston harbor
by the stone fleet is in every way justiliablc, and
that the future commerce Of the city will be
unaffected by it, the channel under our control
answering all necessary purposes.
The CARNIVAL on ICE.-The great winter
sport of skating is becoming more and more
fashionable with us every year, and at present
the various ponds in and adjacent to the city
are crowded with the brave aud fair, many of
whom il is easy to see belong to what we con-
ventionaly term the Upper Ten Thousand. Till
within the last Two years it was a rare thing to
see lady on skates: but now the ladies in some