The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-05-02

dONDAY, HAY z, 1864.
time that We adopt some osser system By
| which we can more speedily and sRsciaslly
! conquer the peace We all 90 much desire.
I Ii the blockade cannot be made e6estive let
us have revision OF the law regulating trade,
and make the offence Of oonlraband trafac
with the rebels punishable BY death. Lot Con-
gress look carefully into this matter. and invite
the wisdom Of the East to aid them in framing
laws suited to the giants OF tho present crisis,
and tho evil may be rsmedied.
.OuR New York MExBERs OF CONGRESS ON
FnANcx-We have had . variety Of speeches
lately in Congress. good. bad and Indifferent,
on the financial situation Of the country; and
the representatives Of this city and suburbs
have figured prominently In these debates.
Mr.. Stsbbins, for instance, hes given US the
views Of IN experienced and successful and .
loyal 6nancier Of Wall street. He Is an In
structive speaker, profoundly learned In the
mysteries Of the Brokers' Board, banking, and
the fluctuations between paper money and spe-
Gle; but he contents himself with temporary
eKpedients, like tho Secretary Of tho Treasury,
and leaves US profoundly In doubt ~ 20 the Hual
liquidation Of ell these "greenbaok" liabilities
Hon. James Brooks has also given u biz views
on the finances; but, like his paper. tho Eosning
Express, his Congressional speeches on finance,
and everything else, ere tumble Of odds and
ends, and shreds and patches, without head or
tail, systsm or purpose, beginning or ending.
In tho language Of John Randolph, ''The gen.
tleman's reasoning Il perplexing, though
clear, sir-clsar ~ the light Of that window,
which Il not very clear, SIR" In fact the Hon.
James Brooks Il diffasive, discursivo and mis-
csllaneous sort Of speaker, Of the rigmarole
order, "full Of sound and fury, signifying
nothing"
The Hon. Fernando Wood, strange a. il may
appear to the general reader accustomed to
measure him by the average degree Of states
manship peculiar to Mozart Hall, has given US
| siye exposition of the dangers Of an excessive
paper money circulation that We have had from
any member Of the present Congress. He has
not confined himself to Wall street, but has
brought forward the valuable lessons Of expe
rience Of other nations in this business, to warn
us from the shoals and quicksands towards
| which we are drifting. But he has omitted the
most striking examples Of worthless paper in
dati0n which the world has ever exhibited in
emitting the financial system Of JEFF. Davis
This omission we must call upon Mr.. Wood tc
| supply. II will need no laborious efforts tc
show that jeff g paper money is on its last legs
| when FIVE hundred dollars Of it are required to
buy pair Of boots next door to his Treasury
Department The simplest exposure Of this SO
called Confederate Treasury, as it now stands
would overtop all other illustrations as warn
| ing to Secretary Chase. We must have speech
at all events, from Mr.. Wood on the financial
! glogisa Qf the lQYelY kingdom Of JEFF Davis be
/ fore his arguments against our system will b
accepted as having any botter object than
! Northern politlcsl CONFUSION upon the rum
Of the National Treasury.
MAxmraAs's psosrrcrs Mhxrco.-Ther
is q good dead Of SIMILARITY between sne Gu
| cumstauces under which Maxim. nan HoeS
Mexico and those under which Jo~ epn DOM
| parte went to Spain. He is foSsted on pup
lation hostile to him, with nothing but 10. ''s
antecedenss to create confidence In has ability
There is this difference: that he Is fartLs yer re
moved from foreign assistance than was .'ul
Joseph. Another element Of danger for him
lies In the fact that theSMexicans do not com.
prehend the necessity Of stability in govern
ments, and will not have it at any price They
love change, and unless permanency of institu-
tions be forced upon them by foreign stand.
ing army, which is scarcely possible, they will
get rid Of their new Emperor as quickly AZ
they got rid Of Iturbide. Besides, how are the
European Powers to control. the 6libustering
tendencies Of our own population. Once the
rebellion is put down we shsll have on our
hands host Of retired veterans, who will
waut fresh field for their energies, and
who will naturally turn their eyes to MEXICO as
. prize worth contending for. They will Cock
there, with or without the. consent Of our gov
ernmeDt, and will speedily enable the MexicaAs
to rid themselves Of their foreign eneun-
brances. The Archdake will soon discoye,
that no has made great mistake in exchang-
ing the ssfe and pleasant halls of Miramar
for the uncertain ard troubled atmosphere Of
the Halls q the Monteznmas
HAVE We BLocKApNG SQUADRON The
blockade runners are doing thriving business
while Mr.. Welles IL taking comfortable nap,
They are running freely, II appears, to ana,fro
upon the ocean, carrying rebel produats- TO-
Europe, and bringing back rebel supplies from
the sympathixeu on the other side of the At
lsntic. We hear Of twelve vessels arriving at
liverpool in two days, laden with cotton from
the rebel States. We also learn by our files
from Bermuda that the steamer Minnie has Just