The New York herald., 1865-01-06

"A RETURN TO CPECE fAYMEN1S--IHE UUTY
OF CONGE Sss.-As the recent victorious move
meots Of our armies and the fcreshadowed rup-
ture among the leading rebel, have rendered It
evident that the war is within few months at
most, and perhaps weeks Of its termination, it
becomes the duty of Congress TO Immediately
set about making the necessary arrangements
to enable the government to return, as near as
possible, to its normal financial condition, and
to restore the specie basis There is no doubt
of the ability of the country to produce that
long wished for event; and the confidence Of
the people, which has been so ruthlessly shaken
by the miserable mismanagement in the Trea-
sury Department since the first breaking out of
the rebellion, cannot in financial point of
view, be again enjoyed by the government
until the bonds and currency for which the
country is seemingly responsible are based
at some price upon gold. II is hardly to
be expected that six or seven hundred
millions of paper can be made to repre-
sent dollar for dollar, the gold and silver issues
of the Mint, when it now differs in its relative
value over one-half; but ~ we have before
pointed out il can be redeemed at some fixed
price at the start, and its worth appreciated as
its volume Is lessened; taking care, Of course,
that no new issues be made except with di-
rect understanding that they would not be per-
mitted to sink below the gold standard.
Congress has the power to enact law COM
pelling the Secretary of the Treasury to adopt
q course similar to that which is here referred
TO, and If Il fail 10 inaugurate measure
which the resources Of the country warrant and
30 desirable an end, the members will occupy
an unenviable position when the result Of their
indifference in regard TO our hazardous condition
becomes apparentto to the people. The present rick
city system OF finance, which was thoughtlessly
inaugurated by Mr. Chase, and unfortunately
fostered and pushed on by Mr.. Fessenden, has
shattered confidence, and now threatens to bring
bankruptcy and ruin upon the fair fame Of the
nation. The sooner Congress looks these facts
square in the face with the clear understanding
that something must be done to provide q
remedy, the better able we shall be to turn
from the path that leads TO that deplorable
catastrophe, the wreck Of governmental faith.
TO strengthen the MODE above referred 10 LOT
bringing TO the aid Of the national finances the
specie basis, plan was proposed in these
columns at the commencement of the present
year, which we see has since attracted the at
tcntion Of some Of the leading spirits in Wash
ington. II was 10 seize the cotton that was cap
tured by General Sherman at Savannah, before
greedy spectators got hold of IL, and, with
such additional amounts as accounts tells us can
be gathered in various sections Of the South,
send IL directly TO Europe, aud bring back the
gold for which il can be there readily disposed
Of, and thus form permanent basis for the pro-
posed resumption. Now is the time for Con-
gress te seriously think Of this matter, and
bring ssrth something that will relieve The coun-
Gy 6on ie present financial embarrassment