The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-10-08

Cotton was in active request aud nrmer In price yes
terday. There less doing In -four and wheat
which were cheaper. and in oats which held firm
ly, The demand for animated and prices were
higher Barley was quite active There was better
inquiry for sugars talow whskey and provisions at
advancing rates Coffee, toas rice, hops, hides skins
and spices were moderately inquired for. An active
business reported in hay wool and tobacco which
were buoyant The freight market was moderately &C.
tive.
Highly Important from Washington-
Peace Proposttions Before the Cabinet
President Lincoln's Position.
We ere in possession of the very important
intelligence from Washington, and through
careful correspondent who has never deceived
us in his information of passing events, that
within the last few days proportions of peace
have been introduced to the consideration Of
the Cabinet. What these propositions are we
are not yet permitted to know, nor whence they
come. The only fact in the premises commune
Gated is that peace propositions have been
brought before the Cabinet; but from this
single fact, in connection with the present re-
duced and hopeless condition of the rebellion,
We are encouraged to anticipate the happiest
and the most glorious results.
If these peace overtures come from the rebel
leaders at Richmond we may rest assured that,
despairing of Southern confederacy, they are
casting about for an amnesty and terms of
restoration. If some secret organization of
the Southern people from the terrible
despotism of Davis, have appealed to the
justice and the magnanimity of the federal
in via IF
safely conclude that good word from Wash
ington to the suffering people of the rebellious
States WILL through their assistance, speedily
put an end to the war. IT, on the other hand,
some member of tho Cabinet, believing the
time to be propitious, has introduced propo-
sition embracing generous amnesty and libe.
raj terms of restoration to the masses of the
Southern people involved in the rebellion, we
cannot doubt that he has acted upon evidence
and intelligence of highly satisfactory cha
racter In any event, the introduction OF these
peace propositions in Cabinet Council indicates
that, in the opinion of at least portion of the
Cabinet, we have arrived at the stage of the
war in which, from the overwhelming ascen-
dancy and power Of the one party and the
weakened and hopeless condition of the other,
we may proceed to the consideration of terms
of peace.
We know that the Cabinet s divided upon
this question of reconstruction; that Mr.. Chase,
for example, advocates the programme of Sena-
tor Sumncr-the absolute extinction fthe State
organization and local institutions Of every State
concerned in the rebellion, and the reduction of
all of them to the condition Of Territories,
subject to the supreme will Of Congress; and
We know that Mr.. Seward, on the other hand,
in his official correspondence with the French
government, has broadly suggested that the re-
turn Of representatives to the federal Congress
from any rebellious State will be accepted by
the administration as covering all essential re-
quirements of the restoration of any such State
to the Union.
Mr.. Montgomery Blair, another member Of
the Cabinet, in q recent speech to the people Of
Rockville, Maryland, with great ability ami
minutsness exhibited the true character of each
says of the Sumner programme-which is the
plan of the whole abolition facton-that "the
assumption that certain States Of the South are
extinct annihilated by the rebellion, and that
Congress, composed of representatives from the
States in which the rebellion does not exist, has
the right to consider the sister repub-
lies where the insurrection for the mo-
ment prevails as dead bodies, to be
disposed of as they please when they get
possession, il abhorrent to every principle on
which the Union is founded" or the other
method Of settlement he says:-'1 turn from
the abolition programme to that which is pre-
sented by President Lincoln. The issue is
made We must choose one or the other. His
plan is simple. He would dishabilitate the
rebels and their usurpatiou called eonfedc-
racy of States, and rehabilitate the loyal men
aud their States and republican governments.
To do this he must break the power of the con-
spirators, crush OF cxpel them from the region
Of the insurrection;" and this DONE Mr.. Blair
contends, the States concerned, in loyal hands,
reassume their functions under the general gov
eminent
This is President Lincoln's plan, according
to this public declaration Of his Postmaster
General Mr.. Blair. We accept this distn
gulshed witness and his testimony as rightly
defining the position Of President Lincoln
We cannot for q moment imagine that Mr.
Blair, as . member Of the administration,
would. for the information Of public assem-
blage, and in the immediate neighborhood Of
Washington, place the head Of the adnnstra-
ton In false position before the country The
position Of the President then, being thus
satisfactorily rcatirmed to the people by
responsible member Of his Cabinet, our only
serious apprehcnsions OF Q protracted war are