The New York herald., 1864-11-11

JeR. Davis @ the Rebel Cengrsss-A
DsIcful Dftty-Ths Negro Enlistment
Pre5scs Too Dangerous to hs Tried.
We have some very interesting news to-day
from Richmond, In the shape Of the message
which has just been submitted from Jsff. Davis
to the two houses of the rebel Congress. It is
. doleful ditty. Nothing SO dismal can bs
found to match it except in the Lamentations
Of Jeremiah. "The confederacy" il in o des-
perate condition, aad the labors which Davis
imposes upon his legislative assembly are
heavier than the labors of Hercules.
The financial situation Of tho "confederacy"
is deplorable Id tho extreme and nothing
short Of the discovery and application Of some
miraculous remedy will save that ngerously
inflated bubble Of Jefrs treasury from dis.
astrous collapse. His scrip is down to
three cents on the dollar. and no.
body takes it at that except upon
compulsion. No wonder, then. that be
begins to talk Of bankruptcy and to plead for
rescue like . drowning man. His premier,
Benjamin, for the information Of the capitalists
and money lenders Of Europe, has recently
been ventilating the hopeless insolvency of the
United States; but we conjecture that even
among the English blockade running specuIa-
tors this exposition from Davis of his financial
condition will totally eclipse the picture Ben
jamn has painted OF ours The contrast thus
presented by the rebels themselves between
the national Treasury and that of 'the confede-
racy" is the contrast Of light and darkness, or
that between powerful man, conscious OF his
strength, and miserable cripple on his last
legs.
Foreign nations. it next appears. have treated
Davis and his coneheracy very stability; and
no further hopes Of any direct assistance from
England or France, he thinks can be enter
tained. The independence of the South is lett
to Southern arms; and though he is ready at
any time to receive overtnres Of peace from
Washington, he will not yet listen to nything
that does not concede his u,timatum Of South
ern independence.
Upon the project which has been agitated in
the Richmond journals. Of arming throe hun
dred thousand slaves for the spring campaign,
Davis enters a solemn and earnest protest.
The experiment is too revolutionary and too
full of hidden dangers to be thought OF. There
are poor whites enough yet to Oil up his wasted
armies, If he can only ferret them out from
their hiding places and catch them. At all
events, Davis plants himself on the side of the
shareholders, and except as laborers, team
sters, &c, he protests against black draft
upon the plantations within his dominions.
This will probably settle the question in the
rebel Congress; but we suspect that the agita-
ton Of this subject between the non-save-
holding politicians and poor whites on the one
side, and the shareholders on the other will 60
on until it eliminates in rupture and general
breakdown of the whole Confederate" con-
Germ. We guess, too, that before the end Of
the present month the deliberations OF the two
Legislative houses at Richmond will be
abruptly adjourned. They must use despatch
in the work before them, or before they reach
the negro question they may have to run.