The New York herald., 1866-05-08

The Ashuelo Augusta aud Mantonomah sailed yester.
day from the Brooklyn Navy Yard for Eastpott
Forty three sealcrs have arrived at Halifax with good
| fares
The Keystone Oil Works, at Pttsburg. with four hun.
dsed barrels oil renned OIL were consumed by re yester
day.
| Thirteen buildings ON tho Ohio Ieyee At Cairo Ill
we're burned yesterday, involving loss of 800 OOO
Tho screw press mill Of the Hazard Powder Company
at Enheid Conn, exploded yesterday afternoon kill.
ing four workmen. their bodies being literally torn to
pieces The wood adjoining caught on Ore, and two
| acres were burned
The floods in the Mississippi are rccedng and planters
in Louisiana are beginning to put In cotton again.
ACourt Of Inquiry has been ordered at Washington TO
investigate the Official action of Colonel Paulding Ad
ditiona Paymaser, regarding the failure Of the Mer.
onan National Bank The court was called at Colonel
Psuldings request.
Congress and Its Scheme or Reconstrue-
tion-Forney's Flutterings.
In the House of Representatives, on Monday
last, the scheme of Southern reconstruction and
restoration reported from the joint committee
Of fifteen, was made the special order for this
day, tomorrow and the next day. II the COM
mittee are ready, therefore, the discussion upon
their constitutional amendment and the two
supplemental bills will be opened this morn
ing 1t is probable, however, that the com.
mittee will not be ready, and that there will
accordingly be another postponement. Moan
time the Chevalier Forney's glorifcation of the
committee, which we transfer to these columns
as curiosity in its way, is manifesto from
entitled to a passing notice.
Forney is in raptures. He cackles as enthu-
sastically over this wonderful bantling of the
nfallible committee of fifteen as q noisy old
hen over new laid egg. He claps his wings
and crows with the exultation of bantam
rooster but after all his fuss and futterings he
finally subsidies into his proper character Of
dead duck" He says that the proposed con-
ssitu.ional amendment from the committee (the
main feature of which ia the disfranchsement,
| in regard to federal affairs of the late rebel
States till the Fourth OF July, 1870 is certain
to pass Congress, and to be ratified by the
Legislatures of the adhering States" We pre-
sumo he means the States adhering to Congress.
"When this fact" he continues, becomes
clear to the people, as it must in very short
time, the effect upon their material interests
will be surprisingly sudden and salutary." In
short, with the passage Of the amendment
through Congress by the requisite two-thirds
vote in each House, Opposition will retire
before the overwhelming necessity and logic
| of the case"
We suspect nevertheless, that Forney, in
assuming that this Congressional scheme ia
certain to pass both houses, is assuming too
much. We rather incline to the opinion that
in the "irrepressible conflict" between the
peculiar philanthropic kinks and crolchets OF
this radical, that radical and the other, TO say
nothing of conservatives and copperheads, the
scheme will signaly fail in the House or in the
Senate. But granting that by two-thirds vote
it I" is certain to pass" it only carries the issue
between Congress and the President directly
before the people. Forney is seriously per-
picked in this view Of the subject, although he
says it is absurd to suppose that what An
drew Johnson may or may not do can ma
terially affect or long retard tho decision of the
parties Immediately interested" because the
Southern people will soon be convinced that
the radicals, as they are called, are indeed
their best friends"
| But there is another little matter which
seriously troubles Forney-" the extraordi-
nary spectacle Of the published proceed
ings of . meeting Of the Cabinet, in
which bis the President's) constitutional
advisers are quoted" and in which Secretary
Stanton is represented to be in full accord
with Secretary Seward and Andrew johnson.
This is where the shoe pinches Secretary
Stanton ia the Apostle Paul TO the republican
| party Of Pennsylvania. They substantially so
declared him at their late Harrisburg Conven-
ton, while they could afford nothinA better
than a roundabout and very equivocal en-
| dorsement of President johnson. In a con-
test, therefore, before the people between the
reconstruction plan of Congress and that of the
administration, the latter, supported by Secre-
tary Stanton, the Apostle Paul of the Pennsyl-
vania war republicans, will carry the Keystone
State October election. With the popular
reaction thus inaugurated the republican party
of New York, under the rcviving influence OF
Secretary Seward, will carry the Empire State
in November, aud thus, without going a step
further, the reconstruction scheme OF Congress
will fall to the ground and the Presidents
policy and the Union party Of the administra-
ton will take possession OF the field.
The speculative ideas Of Forney, we pre-
dict, will be proved, in the sequel, as fallacous
as were those of the maid of the milking pail,
even with the passage Of this reconstruction
scheme of Stevens and his committee through
both houses Of Congress. FIRST, however, the
issue in Congress must be determined, and
| even here We look for failure or u surrender
| TO the administration.
PAYMAsrER PAUI.DING AND THE WASHINGTON
BANK FAnuRE.-The developments in regard
to the failure OF the Merchants National Bank
at Washington reveal state of facts of some