The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-27

iormoo tnat the rise In the prices OF AL arucies
Of wear, use and consumption is one Of the
effects of our deprecated currency. The pre-
MUM on gold represents accurately the depre-
citation of paper money A dollar bill Is now
worth about one-third less than 1t was year
ago. Consequently prices are advanced at least
clothing and other articles Of necessary use
including the newspapers. which are as indispen-
sable as food and clOthing-are proportionate-
ly dearer. This advance in prices is tax upon
the laboring man, the man of fixed income and
the manufacturer far heavier than any ever i'm
posed in legitimate form by any government
Taken in connection with the internal revenue
taxes recently authorized by Congress, it is
almost insupportable; and when the currency
is still further deprecated by the proposed
issue of several millions more paper money the
effect will certainly be the almost utter ruin Of
the present generation, unless some happy
miraculous accident should prevent
The causes of this disastrous depreciation of
our currency are, seoondarily, the mismanage-
ment of the Treasury Department by Secretary
Chase, but, primarily, the encouragement of the
War and Navy DepartmSqk by Secretaries
Stanton and Welles, under The control Of the
radical leaders. These radicals have delibe
rately destroyed the country in order to force
the President to issue the emancipation procla-
nation. Now, having secured this darling OBJ
ject, they propose to acknowledge the Southern
confederacy on the LIST Of May next, thus
openly confessing that they involved us in this
rokf o kbo olrn ~ he Ipso hut co. tbo
sake of the negro and the political power which
negro suffrages will give them in a North
ern republic. It is . fact 30 plain as
to be now admitted by all, except the
most prejudced partisans, that If this war had
been properly and constitutionally conducted
it would have been gloriously concluded long
ago by the submission Of the rebel States and
the reconstruction of the Union. If this had
been accomplished we should have had no de-
preciated currency burdening the people with
its multiplied taxations. Again and again has
this fact been demonstrated to the administra
ton, but without any satisfactory result Under
all circumstances and in every case measures
which would have aided the Unien cause haves'
been overslaughed by measures designed to
sophistical arguments the radicals have en-
deavorsd to persuade the people, and have sue
ceeded in persuading the administration that
the cause of the Union and the cause of the
abolitionists are identical. The effect of this
sophistry was to bewilder the President and in
duce him to issue the emancipation proclama-
ton in order to save the Union. But az we
always predicted, and as JEFF. Davis and the
radicals now agree In announcing, that procla-
nation has SO totally changed the object of the
war that reunion seems impossible; for we are
now fighting not to bring the rebels back to the
Union they left, but to force them into new
Union, the first principle ofwhich is abolitionism
Our readers will remember that when this
war broke out the argument by which we justi-
fed our coercion Of the Southw was that the re-
bellion was without any just cause, since the
government was still strictly constitutional and
was not abolitionized by Mr.. Lincoln's election.
The course OF the administration
which we have always protested-has gradu-
ally nullified that plea. JEFF. Davis received
the emancipation proclamation gladly, and
assured his followers that it presaged the ac-
acknowledgement Of the confederacy. The radi-
Gals candidy acknowledge the same thing by
proposing to let the South 60 on the LIST of May
next. The effect Of this action will be to weigh
the loyal States down by our immense nationaI
debt, about which the administration cares as
little az if it relied upon Colorado Jewett's
gold mines to settle all our bills. BY prosti-
tuting this war into an abolition crusade there
fore. the administration has not only prolonged
the conflict and increased its cost. but has alsy
rendered it perfectly barren of success DO
seeking to abolitionise not only our cause
but also our armies the administration has
added to the cost of the war in life and treasure;
for competent generals have been dismissed
simply because they were conservative, and in
competent generals have been appointed simply
because they were negro-worshippers- Upon
the same principle incompetent Cabinet mem
bers have boen retained because they could
serve the negro, even if they could not serve
the country. We find, therefore, that the pre-
sent administration has caused the depreciation
in our currency, first, by prolonging and in
creasing the expenses Of the war; and, secondly,
by keeping in Office set Of incompetent and
in some cases corrupt imbeciles, who cannot
manage either our armies, our navy or our
treasury. The fate Of the administration and
Of the party which supports It is consequently
sealed, whether the Union il ultimately restored
or divided. Even more unanimously than
during the Tippecanoe campaign the people
will rally to hurl this corrupt administration
out Of power at the next Presidential election.
There is no need Of any argument to make the
people conservative. As their bills come in
from the butcher, the baker, the grocer, the
tailor, the halter, the shoemaker, the dry goods
merchant, the milliner, the dress and mantua
makers, the gas manufacturer the upholsterer,
the coal merchant, and all other tradesmsn,
each bill is an argument against the present
abolition administration stronger ever than the