The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-17

CONSTITUTIONAL
several Southern s,asss delegations are sent here TO
explain why they have done 1t Is fact that
whsl were considered the governing class are
ready to adopt presented BY the North than
those who are usually called ''poor whites" The gen.
uemen OF the unrepentant states say their people
educated up to the proper point yet They must for
tho present yield to the pressure OF Southern men with
MANNED limbs, &C.
The Proposed Territorial Governments for the
Southern states.
II Is confidently asserted by Southern that the
Territorial bill now before Congress will never be en-
forced by the President IL should be passed Not one
of them believe in the right Of Congress- or any other
body or power. TO destroy sovereignty This is the
ground assumed by the President Hence the confidence
Of the people interested.
Naval Rumors and Movements.
rumor has been busily circulated here to-day that
orders have gone forth for the reinforcement of the
squadron in the Gulf of Mexico The rumor has been
authoratively denied this evening" no orders Of the
kind having been issued is supposed that the state
ment originated from the fact that the Navy Department
10 preparing several vessels for destination which has
not yet TRANSFERRED
The Mexican Mission.
The statement telegraphed from New Orleans that
Lieutenant General Sherman and Minister Campbell
would shortly arrive At that city is not credited
least department Of the government has been notified
Of any such intention on the part Of those officers
EXAGGERATED Reports of Indian DeprcdRllOns.
The statement telegraphed from st. Joseph No. YES.
terdg, the authority Of the Colorado papers OF the
7th inst, that band Of Cheyenne Indians prowl-
ing around Living Spring. forty miles from Denver City,
with apparently hostile intentions, is pronounced here
TO DO purely sensational report Reliable information
received at the Bureau Of Indian Affairs from we'll in.
formed agents in Colorado and New Mexico, from
hahn,
that the Indians ASSEMBLING in small bands equipped
for hunting, and fo the PATH conduct.
ing themselves In very peaceable Reports OF
this character should be cautiously received by pub
lc az they very well calculated to engender belief
that the country is thu Of Indian war, and
that the efforts Of the government agents to preserve
friendly feeling among heIndians towards the govern
ment tending In opposite direction These state
ments, have the best authority for saying are put
forth by persons who dsirous that United States
troops should be stationed in those regions These
troops would, Of course, be Stationed at military posts
where the population generally concentrated and the
money that would thus be brought TO these communi-
ties and the very desirable contracts that would result
from the presence Of troops, an the principal motives
for the propagation Of these rnors of Indian depreda
tons In q majority Of instances.
Improvement Of Newark Bay.
The commissioner appointed under resolution intro
duced in the House last session b! Hon. E. " r. Wright
Of New Jersey for the purpose v examining what i'm
provsments in navigation can b madc in Newark Bay
and the Passac and Hackensack rvers has submitted his
report which lies before the Speakers table, but will be
called up in q day two. This 10 q subject Of much
interest to the public and involves he question whether
Newark Bay shall be improved OF . ship canal con-
struced across Bergen Point in ord to shorten the dis
lance for heavy transportation between New York and
Newark.
The Finances.
II il reported here that the Messrs Ator OF New York.
owners Of 600 Of real tate in that city,
engaged in bringing their influence to bear in
opposition any material contraction Il the currency
and the especially to prevent any those violent
and spasmodic measures the part sf the Treasury
which produced such panic In NovembG. There is no
doubt hut that the convusons OF tho money market
that time Unforeseen by the Secretary and regretted
by him, he has repeatedly Expressed esrs to make
and keep the market steady His chief error consisted
in not providing in advance for the heavy demands for
currency to have been anticipated In November both
account Of the large gold interest paid out and the
moval OF the crops With moderate cautonand q little
foresight the tone Of the market will recover from
It's undue extreme depression and with in
prices flor the prescn the currency may be gradually
contracted and the conversions Of and three
to the long bonds continued without any Of e sudden
and violent reductions value which are ruous to so
many interesta II TO- at least questionable Whistler the
government should sell any OF ts god the confidence
In the currency would DO increased by the known re-
sources in the precious metals and II the national banks
were also required TO convert portion Of their gal
serves into gold and gradually increase the same,
might return to specie payments with much larger
volume Of currency, equal - gold than would be other
wise possible, and with much less damage to the bust.
ness interests Of the country. With one dollar in gold
for every three in paper Ia believed that proper cur
rency Of At least I'VE six hundred millions might
kept anoat equal TO specie; and the credit system
prevailing before the war cannot be permanently
established for some time TO cems much larger volume
OF currency than then existed win be permanently
necessary 70 the Transaction Of the business Of the
| country. with these facts well known TO the bust
| ness men Of the country and 70 many members O
| Congress, we may safely expect that . policy
Of very moderate contraction will prevail; and II III,
subfYsasury, well - The banhs shail gradually
prepare themselves for rssumpsion Of specie paymeu
BY the double operation Of dlmnishins their paper and
Increasing their coin. there viii b no necessity
gold bills such = NJ. Boutwslra And there would BE-
return 70 confidence among the business interests
Of the oountry which ars now much unsettled The
Committee Of ways and Means In the House Of Rspressn
tatives had some discussion the subject Boutwes
| gold bill on Friday, but vote was taken upon H.
| The opinion seems 70 be prevalent that II cannol
| pass unless II 10 materially modified; and a. the
irritation which grew out OF the financial panic OF No
vembcr passes away there win be much less disposition
70 press L. good cotton crop and smaller imporations
would much facilitate the gradual preparation for specie
| payments. The report prevailing in New York last
week that The government again drawing ON the
national banks believed be entirely without founda.
/ ton.
Internal Revenue Receipts.
The receipts internal revenue from July last 70 TIL,
date inclusive amount TO the hoavy aggregate Of
s15s $50 This Is at the rate Of over $3.50 600 per
| diem, which, II continued, would amount to nearly
saso, 600 900 for this fiscal year. But allowance
made for the customary reduction Of manufacturers but
during the spring months, after the market has bcen
stocked, fair estimate has been made which shows II
not extrsvagant 10 expect aggregate for this nscal