The New York herald., 1863-08-18

failure OF their efforts, to show that portions of
only hye OF the grand galaxy of tie late
thirteen Confederate States remain under the
rule OF Davis, and, best Of all, TO propose that
North Carolina, in her sovereign capacity,
make Immediate overtures to the North for
peace. sNMa# b
Unquestionably this Raleigh editor has a
large proportion OF the solid men and of the
body of the people of North Carolina at his
back, or his first utterance of this undisguised
disloyaity to the rebellion would surely be his
last. North Carolina is watching her opportu-
nifty, and the fall of Charleston will in all
probability, answer her purpose to rise to
her feet and take her stand, offensive and
defensive, on the side Of the Union. And
what then? The rebel constitution broadly
recognizes the State right Of secession. Davis
and his fellows can therefore do nothing to
prevent the withdrawal of "the Old North
State" or the recall of her soldiers from the
rebel army. But what becomes Of Old Vir-
ginia and the rebel capital, with North Caro-
lima restored to the Union. with Tennessee
reclaimed, with South Carolina practically sub
jugated, and while Rosecrans Is moving down
into Georgia, Grant into the heart Of Alabama,
and Banks into Texass In this view the CAP
ture of Charleston, we say, may result in the
dissolution of the rebel confederacy, and in the
dispersion Of the fragments of the rebel armies
remaining in the field, without another battle
Of any consequence or another siege.
Another defeat at this time of the rebel army
Of Virginia would as surely bring about the
same results Another blow like that of Get
tysburg, or like that Of vicksburg, whether
administered in Virginia, or ct Charleston, or
at Mobile, will, in the present hopeless extremi-
ties Of Davis and bis confederates. bring their
bloody and ruinous despotism to an end. We
dare say that such, to some extent, are the cal
culations Of the government, and that, accord
ingly, the Army of the Potomac Is held In q
position of mastery inactivity" while await
ing the military and moral consequences Of the
expected capture of Charleston.
In the meantime we have no apprahensions
Of surprise Of Meade by his baifled and de-
feated adversary. We are rather inclined to
the opinion that Lee, having signally failed in
two aggressive campaigns, will be in no hurry
to undertake third over the same ground, and
under greater difficulties, and with all the
chances Of an overwhelming defeat stronger
against him than ever before. We believe the
rebel private soldier is paid in Confederate
scrip some twelve dollars q month. This
amount Of this scrip in Richmond Is now worth
one dollar in gold-or rather was two or three
days ago, with decline of the scrip going on
at the rate Of one.hundred per cent day. In
financial view Of the military situation there
fore, the prediction can hardly be considered
Incredible that, a. Confederate scrip will soon
be as worthless to the rebel soldier and the
rebel government as the stock Of the South Sea
bubble or Mississippi bonds, the whole Confede-
rate concern, army, government, bonds, stocks,
scrip and scrippage, bag and baggage, will
speedily vanish after the fall Of Charleston.
The Cemposision or She Mcxt Congress-
The Importance OF tho speaksrship.
We publish to-day the details Of the materi-
ais Of which the next Congress will be composed,
from which It will be seen that there will be
decided majority in the House of Representatives
against the administration, while, on the other
hand, there is an equally decided majority in
the Senate in Its favor. In strictly party mea.
sures, therefore, nothing can be carried by
either side, nor can any obnoxious law be re-
pealed. But, a. the administration will need
money to carry on the war, and cannot have It
without vote Of Congress, 1t ID evident that
the administration must come down from its
radical high horse which It has been riding for
upwards Of two years to conservative policy,
such as the great States Of the North have un-
indicated In their elections, and the
Senate must yield to the will of the people. A
conservative House Of Representatives will
hold the strings Of the national purse, and thus
exercise powerful control over the action Of
q republican Senate and radical administra-
tion. demand will undoubtedly be made by
the popular branch of che federal legislature
that the Executive return to the platform laid
down by the resolution Of Congress in the extra
session two years ago; and, il that demand be
not complied with, We apprehend that all votes
for supplies will come to dead lock.
The conservatives, having majority in the
House, will order various Investigations into
the plunder, proHigacy, corruption and mis-
management which have prevailed during the
whole progress of the war. Their committees
will make reports which will astound the coun-
try, and scatter what Ia left of the abolition
faction to the four winds Of heaven. Their
power to elect the Speaker will add materially
to their strength, particularly if they elect
man Of. ability and decision of character. Tho
Speaker has the right to appoint the committees,
and II he knows his business he will not only
appoint majority from his own side of the
House, but fearless and able man In each case
as chairman. Nor Is this the only advantageto
the party eleoting the Speaker. He has the de-
cision Of oil points Of order IN debates and in
motions, and frequently his decision seriously
affects the destiny Of measure
tits the duty Of the democratic members Of
Congress, therefore, TO take time bv the fore