The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-06-23

| purchase exchange. This has had such q
serious effect upon the business and commerce
of the city that the merchants ard bankers
called meeting yesterday to take such action
60 would secure a modification Of the bill by
Congress. For the details Of this meeting We
refer our readers to tie report in another
column. II is to be hoped that some action
will be immediately taken by Congress which
will relieve the legitimate business of the
that hereafter 1t will be allowed to proceed
without any further clogs of the kind.
Operations ON James aiv~r-The Failure
OF Our Iron-Csad Navy.
1t Is announced In the news from the James
river that Generals Grant and Butler visited
Admiral Lee, on one OF the gunboats, on Satur.
day last. What took place at this interview
between the Lieutenant General and the COM
mander Of the James river fiotilla we of course
do not know; but we know very well what
ought to have taken place; and we can only
hope that the presence and the words OF the
victorious commander of our armies may have
stirred up Admiral Lee to q sense of his posi-
even though a lame one, to go forward to the
performance of his plain duty in opening the
James river, and taking his iron-clads to the
wharves Of Richmond city.
There is no disguising the fact that, under
their present commander, the james river
gunboats are having q shamefully easy
time OF it. They are ignominiously
vuh lin
the army loses eight or ten thousand
men in glorious struggle that they should
have rendered unnecessary. 1t is reported
that even Commodore Goldsborough has
growled at the inactivity of the gunboats on
the James river. BIT, as if mere idlcness were
not enough, Admiral Lee has just performed
an act that. We doubt not, has called an honor
able blush to the cheek Of every officer in his
fleet. He has sunk boats in the rivcr-ob-
structed the channel--to prevent tue rebel
rams from getting out at his ships He has iron
clad vessels enough to blow every ram IN the
confederacy to atoms; but he is AFRAID of the
trial. IF he fears TO meet these vessels down
the river where his own boats lie. when may we
expect that he will 60 up the river and fight
them where they are supported By batteries on
shore?
If it be urged against his advance up the
James that the distractions are dangerous and
that tle fire Of the forts is too severe il must
then be admitted that iron-clad vessels are a
failure, and that the Immense sums spent IN
eir construction have been thrown away.
Early in the war Admiral Dupont silerced
shore batteries under terrible fire with only
wooden ships. Admiral Farragut went to New
Orleans despite distractions in tie river, and
running the FIRE of perfectly constructed iorts
all with wooden ships. He ran The fire OF the
Port Hudson batteries with wooden ships: aud
Porter ran past the formidable and well served
Vicksburg batteries with even the army trans
ports II 80 much ore can be done by some
commanders with wooden ships than can he
bv others with iron ones, we ought either TO
waste no more money in the construction Of
iron ships. or VIC on hit TO change comm lnders.
We do not object to Admiral Lee because
he is . relation Of Mr.. Blair, nor We. because
he is aVirginian; but we do object to him
because he has no energy in the discharge OF
his most obvious duty, and because he is for
tina. simple reason palrabiy unfit for the ina
portant position be now occupies.