The New York herald., 1863-01-13


giving TO them tho highest legal sanction aud She most
desirable character possible within tho power OF the
goyefnment-not above SIX fer ceQt nerestn order TO
to have gvon them this desirable character OF Inn
mediate copvcrbiity that strongly urged s adoplios
and upon the same principle that ged the legal tender
last year The more desirable notes are a. an
inyc stment the longer tbcy would stay out and lie
higher would be their price in the market trust how
ever that In their present shape they win be soughs
after and be valuable aid TO the people in the payment
Of internal revenue and materially assist the Secretary
in his arduons duties Of furnishing means Tor vigorous
prosecution cf the
In nearly all the plans that hive been submitted TO the
committee for providing to carry on the govern
for tie eighteen nonhs has been proposed 70
issue leg, tender notes II the exigences OF the
service shall render further issue necessary Inc Sc
by him for tho loan Of 5000 600 600, says Tho CON-
mttee will observe that the provision in respect to loans
s very general Under u the Secretary VIII have the
power 10 borrow money in any q the inary forms Or
4 exgencies reiue to make additional issues, s United
States notes l have aversion to any considerable
further issue OF legal tender notes. and only consent
TO II as an imperative necessity think too large
Issue will end inao prices. but do how IL
can be avoided. do not the soldiers be
paid, how The government be carried in auy
other way shall therefore, vote for this provision il
connection with tho other provisions Of the bill.
the war.
sr since tho sst gun was Gged upon Fort Sumter my
conviction has been deep and abiding that this 20
bea long, expensive bloody ard desperate civil war,
and that II would be very difficult to determine ia
advance what results would flow from; such n.
deadly encounter. have for moment doubted
maintain separate government and total separation
fiom tho free States. This has been their deliberate pir
SO from the beginning Sealy two years o. concerted
armed power Of this government, has consolidated
their strength. They have organized form Of civil
government under constitution, with Jefferson Davis
as President fer six years, who is surrounded by ,
Cabinet Congress, Judiciary and all Other officers neces
sary to Keep IL fnl operation This rebel governments
has organized and inantaincd powerful army, which
has been able thus far to succcssfuly repuse every
attempt that has been made part take their ca.
ptal, distant only hundred and twenty Ave miles
from the hall in which we are now sitting.
that tho caba nj Richmond tie only Responsible power
TO which overtures Of peace he madc will listen
TO any offers Of compromise however liberal which Wills
induce them to throw their present de fdct0 govern
ment come back into the Union and submit to the con-
stitutiona whch-Abraham Lincoln pre-
ses any other President that be elected by th0
loyal reople the ned States. Jefferson Davis and
all tho high officers about him are men o. high 20.
tcal aspirations. lnordnate ambition, and de-
sire rule the chief notiss that prompted them TO
rebel against ne Scnnsttutcn ami they haA
his coconspirators win voluntarily negotiate TO
der the power they hold have but little appreciation
Of the motives that stimulate theno SO determined and
desperate action. Ihese desperate In earnest,
and will fight to the death They are lighting for power,
for empire and win neither conpromsc nor surrender
unlees they compelled to o at the point Of tho
bayonet pressed forward by overwhelming and crush
Ing fierce. They must be whipped badly whipped before
they will compromise surrender. Any expectation
tho contrary Is only faaslous but mischevous us
consequences IL divides and weakens the poopie
in the loyal states and proiongs the war i have
no expectation that the rebellion will bo crushed
unless there rs more united and n more determined
RIO ors o. ie part o. The resple q the Northern stats
VIII jefferson Davis compromise on my terms short OF
separaon2 WIN he voluntarily surrender the he
now holds! VIII he receive any proposal for peace except
m the terms Q. div ding the old Union, and recognition
of his government over the thern hafS This ought
II cmpromisc can bo Mg e with the rebel govern.
ncnt Short Of dsoyinE tho rn.on, should be known
gayilles may decide immediately what they will do The,
a,y expenses o. the war Tho public debt
he day longer ~ Syisoos Ts az homs no
This state Of thngs cannot be continued for any consder
16lc length Of time without erailiag public debt 90
age that viii brhen the present and future genera
lions. The best blood Of tho nation flows freely Large
aumbors are killed Ia bae sut more die from exposure
and disease than IN any other way All this blood ana
tain the Union.
In tho course OF Mr. Spaudinss speech he exhibited -
bio prepared at the Treasury Department, showing the
circulation of the banks in the several loyal Staos Jne
aggregates foot up as oblows:--
ccured circulation. $42 600 COO
Unsecured circulation. ............... l23 0O0,oO0
Total circulation. Sos 900 900
specie on LIST jar uary, 1863 ............ 76OO0OO0
In conclusion Mr. spaniane asked why tho government
mad net been more successful in crushing tho rebslioD
Il was because nceied esrncstncas greater de-
better discipline In tho army, and closer
be had speedily he had very little hope or crushing tho
rebellion. the rebels could maintain their military
Union army could not achieve decisive victories over the
rebel forcos, all lost. No compromise could be orr
ought TO be made Military success was the only way in
which toy could MAINTAIN their finances and restore the
Union.
Nr. TuoxAs, Un,onJ Of Mass, asked whether he
Mr. Spauding) did bolicvc that with the policy pur-
ued oy Congress the inhabitants Of the seeded States
not by legislation deprived Of every right under the
and whether he expectsd that the govern
nent with sch policy could succeed In restoring the
inion.
Mr.. BINGHAM, (rcp) OF Ohio, offered to answer, ands
Mr.. TnoMAs-I did not ask the gentleman from Ob.o.
Mr. srArIpNe believed that the House knew i.s duty,
md would perform IT,
Mr. THOMAS did not doubt ,ha that was not tho ques-
md Of der dspryns the people q the suS Of their fights
'nder the constitution the war would succecdf
M. SrArLisG would turn that over 70 tne gentleman
Mr. TnoxAs-The legislation of Congress- only Affects
sombataus u undt 1 the ACT q couscatioa Congress bad
,onfscated the property n eleven States, without
or .nce 70 the question whether = was owned by COM
way aided tho rebellion prevented from holding any
oce OF trust or honor under the United States. (voces
.Good."b And further, by tho Presidents proclama-
lion, tho loyal ~ well dlsloyal inhabitants Of tho
rebel Sates are deprived or the rights Of property,
cognixcd under the Ia leaving them the only
,ossibe rcmcdy ultimate resort to tho liberaty os
ongrcss.
,asscd the House conIsca!ing the property Of any
state. .d
Mr.. THoNAs--g did not say any state
Mr.. bKenAS-You had better TO the report. Yoo
,aid we passed bill conacatiug the property Of eleven
states.
Mr.. BSGnANNo bill passed coniscating the property
u any State States DO rebels Rebels may be
hung; but would like o. know how hangman would
bind the neck Of corporation that has neither body nor
soul (Iaughtcr.)
Mr. TBonAs--in my Judgment the Confscation bill has
,ny the OF law the substance IL confscatea the
property Of n tho h,hsls those eleven States aud
ask the gentleman from Ohio whether that nos cor
ect statement Of It's proysionsy
Mr.. BSoHAM-Not al aii.
Mr. THoxAs-I n ic s,udicd the bill very carefully
Mr. BiyGHaM-Thc gentleman Is widely mistaken.
Mr. WAnswoRri, (CnoaJ o! Ky.-Ihorc are great
many Of tho same category, and wc would Ike to
ear the correction
Mr. BlNapAw-rhc bill limits the forfeiture 10 rebels In
rms their aidcrs aud abettors. Would the gentleman
tate that everybody the rebel States was rebel or an
idcr and abs,tor in the FebciionY
Mr. TuoMAs--My impression is to-day, ns matter VI
that you cnot hnd ~ any one ol those sates
nv number OF persons who have lot 80 far
ded aud promoted tho rebellion TO be within tho.
sions OF these bills Docs the gentleman deny hatY
Mr. BiSeuAM-1 do deny u. do nod believe that the
bIdren OF that hand have any aided this rebel
ion than the ay headed father OF the republic (al
udiug 20 Mr.. Crittcndcn) who stands there and whe
bo Ia M. mari .tfo ar