The New York herald., 1864-10-10

| the proposition Of the Richmond E,aq,arer to
make a last effort to save the "confederacy"b by
tearing away the foundation <upon which il
| stands.
The Price OF Cotton WHAT Oar Govern.
mont Should Do.
Some very remarkable and important orders
have recently been issued by General Heron
in the military district of Baton Rouge, OF
which he is commaudant. These orders ma
terially interfere with free trade in cotton and
other merchandise, reducing all commercial
dealings to monopoly, subject to the control
of a government special agent. All Licenses
for trade stores are revoked; no one is per-
mitted in future to continue or open store for
the sale Of any articles without a permit from
this special agent, undcr penalty of arrest and
contiscation Of his property to the Treasury
Department Neither can any ono purchase
nor ship any of the products Of the country
without permission. from this agent. This is
certainly placing in the hands of government
official large amount Of authority, which,
however it may be deemed necessary to extend
by the military commander of tho district for
the proper government thsreof, very seriously
affects the price of cotton, the interests of the
Treasury, and the prospects of the Union
cause a. we shall show.
Several days ago British oteamer-the Vir-
ginis from Liverpool brought cargo Of cot
ton of over two thousand bales into the pert
of New York, q large portion of which was
grown in the East Indies. shipped to England,
and reshipped to America. This is very like
bringing coalS to Newcastle, and the fact may
be interpreted into severe rebuke Of the poll
cy of the administration. 1t is clear that we
do not want cotton of foreign production here.
There are at the present time 10 the hands Of
the rebels not less than three million bales;
but the government have throw every obsta-
Gle in the way Of its coming North to our At
lantic ports, except through the hands OF
few favorises OF tho administration. In Texas,
Arkansas and the Red river parishes OF Loui-
siana alone they hold over q million bales, in
store and in the field, ready for shipment to
Europe after it crosses the frontier into Mexico.
1t is absurd to suppose that the rebel holders
Of this cotton would prefer to run the risk OF
tho blockade from Wilmington and Matamoros
rather than to sell it for greenbacks, without
any risk. to Northern purchasers. This we
assume TO be a fact, and, takea i'll connection
with the circumstances OF the recent Imports
ton OF cotton from India proves that the policy
OF the government on the cotton question is, to
say tue least Of it, weak and foolish.
Looking at the philosophical deduction from
these facts what do we ind-that every bale OF
cotton which we send to Europe iron the North,
instead OF permitting it to go from the South,
weakeus the rebellion and strengthens us, in
so far as we draw for it 10 gold while va pay
for it in the national paper currency, and at
the same time deprive the Southern govern
ment Of 80 much Of their credit in Europe.
Again, this policy bas put the price OF cotton
up In Europe one hundred per cent, and thus
enhanced It's value immensely az q financial
resource to the enemy. RI the means to pur
chase cotton from the Southern owner were
left unrestricted we could have shipped nearly
A million sad a half OF bales from United
States ports, which, at thirty cents pound
which the rebels get for it in Engiand-allow
ing Eve hundred pounds to tha bale, would
have yielded us from Europe from one hun
dred and City to two hundred millions in gold.
and at the same time would have deprecated
and indeed destroyed the reJel market there.
The price Of cotton In this market hxs no y
reached from one dollar and twenty cents to
one dollar and thirty ccnts, while the cotton
manufactures ordinarily used "a every family
have increased IN price from dIeen aud twenty
It. III ,i-
and all other goods in proportion. These
grievances fall upon the loyal people Of the
North, The families Of the men who ara Sighting
, 70 pu. down tho rebellion, AID no. upon the
rebels.
| In sno.her view, Il can be shown that the IN
restricted trade with the South in the purchase
! OF cotton would assist in suhdoing the rebel
lion by creating strong, binding link between
| .he Southern people and the Union. Evcry
| greenback VIC send South biads the holdsr
thereof, whether rebel or Cnionist, more arsc-
| lively 10 the government which il TO redeem
Il. II gives him an object IA maintaining lis in
\ tegrlty Il opens TO him sl5o the prospect Of
realizing for his cotton q currency, which,
Whatever his political sentiments may be, w
know Is regarded in she South with vessiy mor'
confidence than rebel paper. Desides ever.
areenbssls which goes Sou.b IN thls way
relieves tbs Treasury, because II rctarus in
gold, through tho medium OF Cot.on.
Thus .he advantages Of weakening The re-
beliou, increasing the finances of thc covers
mon, and relieving the pressure upcn The
Northern people, hy reduction Ia the price Of
necessary fabrics, cao b obtained By opoaing
tic roads to a free purchase OF cotton wkbin
tie limit, Of the rcbelioas territory But lbs
sove.am.n. do not seem TO understsnd IL In
tEls lirbt. Aad the7 lsgc dis.aglsd al ta,'s I'D