The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-08-02

for most descriptions. The principal demand was from
the homo trade. Wheat heavy and rather easier,
especially for common qualities while prime to choice
ots and sustained. Corn opened stiff but
closed dull, with fair amount OF sales Pork opened
frmer, but closed dull and easier with sales OF mess at
si 25 and which afterwards fell back to 31l primo was
AT 50 % 50 so. Beef firm. lard was active and
sllf Sugars steady with sales OF 100 hhds The
PRICES of the essrs Stuart for their refined sugars
given in another column. The stock Of sugar
amounted To 81 500 hhds, against Go 1887 at the same
time last year 800 boxes against % sl2 last year
% sos bags against 19 40 last and las hhds me
ado against 1871 last year Coffee quiet and steady
Freights were buoyant and active wheat taken
Liverpool at Is I'D lsd and -four at 3s Sd. As To
London wheat at 14.i. and -four at a. a As 3D.
Vigorous Wharf.-The Means, Powers
and Responsibilities OF President Lin
coin.
We congratulate our rea dcrs on the assur-
ances which we have received from Washing
ton, that 'unwonted cheerfulness and ANNA
ton are now visible there; that, without know
ing definitely what is to be done, all the friends
| OF the Union in that quarter exhibit an un-
usual confidence that fresh impetus has been
| given TO our military operations" that "the
arrival of the mortar feet at Hampton Roads,
| aud the sudden clearing out from the capital Of
| most'b the officers who recently thronged the
hotels and places of public resort" have Great
| ed the impression that important work has been
cut out for our two noble armies in Virginia
and that its execution will be commenced with
out delay.
All other accounts from Washington substan-
| tate this cheering report. Best of all, every
wtness-soldier or civilian-who has recently
couyersed with President Lincoln gives the
same good testimony in his behalf. He is tho
| roughly aroused and inspired with the spirit Of
our loyal States and people; he fully compre-
| bends their expectations and his responsible
| ties, and is resolved henceforward to use the
forces and the resources at his command, with
| put stint and with seepless vigilance and ener-
| ~, in order to bring this boastful and menacing
| rebellion to q speedy conclusion. His late
| stringent order regarding absentees from the
army will be equal, it is supposed to the ad-
iition of from forty to fifty thousand men to our
troops in the field within the next fifteen days,
while the recruiting measures which he has
adopted and others which he is considering, in
| conjunction with the local authorities Of our
loyal States, will soon fill up his late call for
| three hundred thousand men. We are glad to
learn that if federal, State, municipal and ind-
vidual bounties to volunteers fail to meet this
requisitioa in a very short period, a draft will
be made upon the militia; for our loyal people,
| ~ mdsse, instead Of fearing this alternative,
hope that it will be adopted, considering the
| surprising va nc Of time at this crisis.
President Lincoln has the confidence OF the
country. No man doubts his honesty or his
| patriotism. Down to the recent seven days
bloody battles near Richmond he may, perhaps
have shared with the whole people of the
| or two would be substantially ended; but
| those memorable seven days have convinced
| him, a. they have convinced the North and
| all our loyal States, that we had vastly
| moderated the numbers Of the rebel army and
| exaggerated our own. But il, in anticipation
| of browning victory at Richmond, the ener-
| gies and vigilance Of the administration in re-
| gard 10 our army were slackencd, the severe
| disappointment which followed has brought its
| compensatin2 reaction. II has taught us-gov-
| eminent and people--that while onr warlike
! means, resources and facilities are absolutely
overwhelming, they go for nothing unless we
bring them TO bear in superior strength against
| Tie active forces of this rebellion.
Here, then-government and peopIe-we take
a new departure, and enter upon a new cam
paign equal to the full measure Of the great
work before us. The whole strength Of the re-
bellion is now staked upon its great army in
Virginia. We have only to demoish that army
IN order to end this war. Granted that it is an
army of three hundred thousand men; we see no
reason why il should be permitted to hold vir-
GINA beyond the LIST OF October. President
Lincoln has the power and the means to put to
fight and dispense this defiant rebel army with
in the next sixty days Congress has invested
him with absolute authority over the men.
money, means and facilities Of the nation of
every kind, for brief and overwhelming cam.
paign AT this moment no monarch In Christen-
dom, not even the Emperor of Russia, possesses
more ample range OF authority than our
modest and unpretending President This au-
thority has been bestowed upon him 10 save
the life and restore the health and integrity OF
the nation. With the free and full consent OF
our twenty-tbree millions Of loyal people, Con-
gress has given to President Lincoln these
powers, means and responsibilities Of tempo
rary dictator; and our loyal people look to him
with confidence for he most bencGcont results
10 The country and 70 mankind IN the speedy
restoration Of the Union
The new campaign opens with every promise
OF success. The government appears at length
to be fully Impressed with the peryading shirt
Of our loyal Stotes; and our worthy President
fully realizing the dangers and demands Of the
crisis, and the means and great advantages with.