The New York herald., 1864-08-16

grades Of wheat, which lower Freghts quiet
owing 10 the advanced rates demanded.
The Question of Armistice and n Com
vention OF the stat-s-Let New Norh
Speak 90 the Administration.
We are satisfied that in casting about fol
those great undercurrents Of public opinion
which always indicate the drift OF political
events we have never been nearer the marl
than in our advocacy Of a special commission
to Richmond from Washington, in behalf of an
armistice and a convention of all the States, to
| consider the ways and means of peace. We
cannot doubt, from all we hear, that our views
upon this subject are winning "golden opinions
from all sorts of men"-representative men
of all parties all creeds, all classes,
and Of all business pursuits. In
deed, it is impossible that any rational
man, calmly looking at the question Of pro-
position, in good faith, from our side, for an
armistice, to begin with, can do anything but
heartily endorse it, when the government and
the people Of the loyal States have everything
to gain and nothing to lose thereby, whether
ending in permanent peace or in resump.
ton of the war
We are on the verge Of Presidential elec-
ton. What shape it will finally t,ke, and
what the result will be, no man can tell Our
political parties were never SO cut up and de-
moralized as they are to-day. The Northern
democracy are hardly in better condition for
unity and harmony in this election than were
the Northern and Southern democracy together
in 1860. The party identified with the ad-
ministration is rapidly falling to pieces There
is one thing, however, which is boldly
apparent in the midst of all this con-
fusion, and it is this: that unless the admins
tration shall do something, and that speedily,
to place itself right before the people, the dis
cords and fierce excitements of this Presiden-
tial canvass may eliminate in scenes of bloody
violence and civil war throughout the North.
Upon Mr.. Lincoln's ultimatum Of no peace,
except upon the conditions precedent Of
the abolition of slavery, we cannot stand. 1t
is generally construed as signifying not only
war of determination to the South, but a war
of absolute exhaustion and ruin and anarchy to
the North. This idca taking hold OF the pub
lie mind at this crisis Of deprecated paper
currency, still tending downward; high prices
Of all the essentials of life, still tending up
ward, and with increasing embarrassments to
the Treasury and to business in all its ramifi-
cations, is full Of danger to the administration
North.
President Lincoln cannot too soon, therefore,
recede from this untenable position, that he
can entertain no overtures for peace that do
not embrace the abolition of slavery. The
political power Of slavery is gone, whatever
may be done with it in the work of reconcilia-
ton and reconstruction between the two Sec
tions. The people Of the loyal States are not
prepared to add to their present heavy bur-
dens those OF a war for the fulflment Of that
one extreme idea Of abolition or Southern ex-
termination. II there is shorter aud on
honorable way, withal, to peace and reunion,
Mr.. Lincoln must prepare to take it, or suffer
take. We believe, however, that his own in
clinations are in favor Of the Union, leaving
slavery to its chances; that his despatch
"to whom it may concern" at Niagara,
was simply intended to disperse q eau.
Gus of peace pretenders and mountebanks,
and that il was by no means bis ultima
tum on this great question Of peace. At all
events, as upon . mere rumor that the admins
traton is about to send commissioners to Rich
mond, the World and other opposition jour
nails, laboring for the overthrow Of Mr.. Lincoln
in November, are taking the alarm, he cannot
be at loss TO comprehend his true policy. 1t
lies in this very movement by which the disor-
ganizing copperbead peace faction, and all the
other opposition factions and conventions Of
the North will be disavowed and reduced to
silence.
Nor will any peace movement from any other
quarter than the administration amount to any
thing at this crisis. The Hon. Fernando Woods
peace State Convention at Syracuse, on Thurs
day next, will hardly be directed to higher OBJ
jects than bargains and sales touching the
spoils, national and local. On the other hand,
such amateur peace conferences as this late af-
fair at Niagara Falls are bumbugs that even
Barnum would have nothing to do with. The
peace propositions we have suggested must
emanate from headquarters at Washington. To
this end we would call upon the citizens Of
this great metropolis, taking the lead in
the war from the beginning, to take the lead
now in behalf OF an armistice as the first step
towards peace. We call upon our merchant
princes, manufacturers fnanciers, tradesmen,
workingmen-men Of all professions and all
pursuits-regardless Of party notions and party
leaders, to proceed at once to the work Of
bringing together grand independent citizens
meeting in Union square for the express object
Of appointing committee Of FIVE hundred rep.
resentative citizens to wait upon President Lin
coin in behalf Of an embassy to Richmond, with
liberal overtupes for IN armistice and conven-
ton OF all thSSsates, North and South, in order
TO see if this dreadful war cannot be ended in