The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-01

It's conten totally destroyed BY re the origin Of which
is unknown The loss IL estimated two hundred thou
sand dollars assst
aro occurred 1t Bcnneho6 run, in the oil regions,
yesterday afternoon which burned ont eight flowing
Wells thousand barrels o. crude OIL The loss
n estnAted ~ hundred and cen theusand dolam
The stock market WAS strong yesterday and closed
steady ~ TIE advance Goyernnsnts were higher Gold
closed at 10 ,s.s. I. \ IA: 81 n. ~ 4 I.
CommercIal afhirs remained very quiot yesterday.
Tho nrmnsss Of gold docs mot 10 have any oher
OBJECT than to render foreign merchandise firm. But little
business done In either foregnDr domestic merchan
disc. Cotton was steady. Petroleum was dull and
heavy. Groceries were quiet. On Change -four was In
fair demand and steady. Wheat was nominally un.
changed. Corn higher. Oats were dull and droop-
ing. Pork was somewhat lower. Lard was heavy.
whiskey continued dull and nominal.
Southern Claims for war Damages-A
Wise Movement In Congress.
The resolution of Mr.. Delano, of Ohio, which
was adopted by the House Of Representatives
on Tuesday last, involves line Of policy so
essential to the salvation of the Treasury from
bankruptcy and the country from ruinous
financial revulsion as to be entitled to the
special commentator of every loyal citizen
through the length and breadth of the land.
We refer to the resolution instructing the Com
mittee on Claims, till otherwise ordered, to
reject all claims referred to them for examine
ton from citizens of any of the States lately in
rebellion growing out Of the destruction or
appropriation Of or damage to property by
the army or navy OF the United States while
engaged in suppressing the rebellion.
As was remarked by Mr.. Delano, there is no
obligation on the part of the government to
pay for the damages by the ravages Of the
late war; Moreover, if II were agreed upon
that loyal sufferers should be UNIDENTIFIED 1t
would be impossible to draw the line between
them and rebels. On the question Of loyalty
every Southern loser Of property by the war
could give some evidence in his favorsby ca
partc afidavits. Mr.. Niblsck, democrat, of In
diana, of the committee, was under the impress
sion that loyal citizens, as distinguished from
rebels in arms, ought to be indcmniRed; but,
as the status of the Southern States was not
yet settled, the committee would do we'll to
defer any action in the premises. MrS Ward,
republican, of New York, however, speaking
for the committee, hit the nal upon tie head
in suggesting that the amount Of these South
ern losses from the war, the condition Of our
finances and the dificulty Of separating the
loyalist from the traitor admonished him not to
open the door that might double our national
debt, bring on financial ruin, and perhaps
reputation and national disgrace.
The Committee on Claims were accordingly
instructed by the House--ll8 to S6-to reject
III C,,tharv, clc;v,s for xrcr dcv,o rvos <sIl otla~
wise ordered. The thirty-six members voting
in the negative were doubtless the democrats
of the House, who in this matter, as in the Dis
trict Negro Suffrage bill, put the interests Of
the country behind the tactics Of their party.
What care they for the administration, the
national treasury, financial collapse and re-
pudiation, so that they continue to build up
again their old defunct democratic party! But
we would still admonish them that so long as
they adhere TO this old game Of their old demo-
cratic party, SO long they will be kept under
foot. They must meet the demands of the crisis,
regardless of their old party, or they will never
do anything to wipe out their record Of the war.
It is morally certain that national bank
ruptcy, reputation and financial and political
chaos will follow the experiment OF compen-
sating even loyal Southern men for their losses
from the war; Mr. Senator Guthrie, OF Ken
lucky, Secretary of the Treasury under poor
Pierce, and possessing good reputation as q
tinancier, recently, in the Senate, put down the
losses of the South from the late rebellion at
the stupcndous figure Of ten thousand millions
of dollars. This may seem incredible; but, in
GLIDING the rebel expenses Of the war in
money, labor and supplies; the Southern crops
Of cotton, sugar. rice tobacco &C., Of four years,
neglected, wasted, burned or captured; the
white able-bodied men Of the South killed and
crippled; the four millions of Southern slaves
set free; the plantations laid waste; the ships,
steamboats,, railways and rolling stock,
cities, towns, villages, houses, public build
Tings, factories, stores, foundries, cotton
gins and presses, mills, depots, bridges,
fences, forests, timber and lumber, &C., de-
stroyed, and horses, mules, cattle, sheep and
swine swept on, together with the losses of
Southern banks, corporations and speculative
Investments depending on the success OF JeG
Davis, we dare say that Mr.. Senator Guthrie IL
not far out OF the way. But whether this ag-
grcgate Of Southern war losses Is ten thousand
or five thousand millions, we cannot touch It
without running the danger OF being swallowed
in. an unfaihomablc abyss Of bankruptcy, cor
rupuon, confusion and ruin.
Suppose we begin with the compensation OF
loyal Southern men--one precedent win lead
to another, still widening the margin Of liber-
atty, until by the pressure Congress and the
Treasury, the government and the country win
be overwhelmed. A national debt Of three
thousand millions is a. heavy burden - We
can safely carry. II must be dIminishsd BE-
fore long, or even this weight may stagesr N