The New York herald., 1865-01-20

dent OF the United States
Mr. Harradan our Secretary Of Legation TO Nicaragua,
leaves for his post by the Golden Rule to-day
Several gentleman also visit Nicaragua by this ship on
subjects of scientific research for which the field is re-
ported to be very interesting
The stock market was in state OF semi panic ycser-
day, and suffered heavy decline. Government securi
ties heavy and lower Gold was weak, and closed
dropping at 209M, after recovering from 20S.
The fall in gold unsettled the merchandise markets yes
terday, and caused quite general decline in prices
Foreign goods very quiet, and scarcely anything
was done Domestic produce was lower Petroleum was
in better demand at &c. Sc decline. On 'Change the
-four market quiet, and SC. 10c. lower Wheat
inactive and prices wholly nominal this being
the with oats and Pork decidedly lower
and less active while beef steady at previous prices
Lard was lower, and in limited demand Freghts were
quiet whiskey WAS decidedly hrmcr and more active.
Our Future and the Policy 1t Indicates.
The great problem of the war Is now
80 near its solution that no human agency
can long protract the issue. The question
whether legitimate government of ninety
years. duration, established by the wisest
intellects that were ever devoted to the
formation Of a governmental system, shall
be maintained against sectional revolution,
the offspring Of restless ambition in few men,
who, like the first arch rebel, believe that it is
"better to reign in hell than serve in heaven"
must be decided within very brief period.
Geographically the rebellion is reduced
within mere span. A portion Of Old Virginia
and few cities on the Atlantic coast are all
the battle fields that are now left, and the cap
ture OF Fort Fisher virtually confines the rebel
coast line to the cities Of Charleston, Mobile
and Wilmington, and the city and port Of Gal
weston. We hold the ports Of the three former
places, and have 80 blockaded Galveston as to
effectually render 1t worthless to the enemy.
Its military strength il scattered between
the army of General Lee, near Richmond,
and the army of General Hood, on the south
bank Of the Tennessee the one held in check
by Grant, the other rendered worthless by
Thomas. Should the latter desire to join his
forces with those of Sherman by march
through Tennessee there is nothing to prevent
him; and should Sherman advance upon Rich
mond by way Of the Carolinas, the rebel capital
could be crushed like an eggshell in the hands
Of giant. The trans-Mississippi operations,
upon which the rebel journals lay 80 much
stress, are mere fugitive pieces in the great
volume of the war; They are not worth basing
any calculations upon, because they are but
waits and strays upon the current, and can no
longer affect the general result. In political
sense the rebellion is eating out its own vitals
by internal dissensions between leaders and
people, and by the voluntary abolition Of
slavery in the border States, and its forced
abolition by JEFF. Davis in the States within The
"Confederacyn in which canse the rebellion
was inaugurated.
Thus, looking at the present appearance of
things within and without the rebel lines, we
may safely assume that within six months from
this time the Union will be restored. We shall
be all together as one nation again. We shall
be more assured Of our strength military and
moral. OF our military strength, because we
have proved by the bloody ordeal through
which we have passed that there is no limit TO
our resources in men, in valor, in self-sacrifce.
OF our moral strength, because we have fur
nished evidence to the world that nation not
century old, illustrating the principles Of self.
government can maintain itself against the
sevcrest of all assaults upon its permanency--a
desperate internecine war-and yet outlive it
The States having all come together in har-
mony, internal difficulties being settled, the
bitterness of factonism and scctionalism having
been fused and combined-as metals are by the
alchcmist--in a crucible Of common suffering
into more substantial material, we will be In
a position not only TO repay with interest the
sights and insults Of foreign Powers in our
day Of trouble, but to state emphatically our
policy upon this continent and insist that this
policy, once declared, must be acknowledged.
The time will then have come when our gov.
ernmcnt must issue a manifesto 10 the foreign
Powers, stating how this war arose, and show
ing that IL was originated and fostcrcd by Eng
land which treacherously took advantage Of
the domestic institution Of slavery to create
dssensions between different sections of the
country, with the hope Of destroying this gov
ernment.
Slavery has been heretofore the great danger
to the stability Of the republic, and II was ne
cessary for our safety that II should be obliter-
ated. II il virtually driven out of existence by
the war. But there is another danger remaining.
II is the attempted supremacy Of European
Powers on the continent Of America. This
must be settled by very emphatic action AZ
soon as we are again united nation. The
presumptuous claims Of France in Mexico, as
serted through her Austrian catspaw, Maximil-
ian, must be met with IN unanswerabIc protest,
backed by an army Of veterans, whose past
deeds attest their power to enforce whatever
doctrine they may carry on the points Of their
bayonets. In like manner the prctensions Of
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