The New York herald., 1866-09-30

Coffee quiet but steady Cotton was active and
frmer. Groceries were generally quiet. On Change
flour was moderately active and steady. Wheat was
more active and &c. &c. higher Corn and oats ad-
vanced lc. Pork nrmer. Beef was steady and
firm. Lard ruled dull and heavy. Freights rmer
Whiskey was steady.
The Internal Revenue receipts at the chief office in
Washington yesterday were $4,2 1873
The South and the Amendment-The Dangers
OF Delay.
Recent events, North and South, have won
derfully contributed to strengthen the repub-
lican party on the platform adopted by Con-
gress for the reconstruction and restoration of
the lately rebellious States. The Memphis
riots, the New Orleans massacre, and other
scenes of similar character in different
places South, have made q deep impression on
the Northern public mind, prejudicial to the
confidence policy of restoration. The Phila-
delphia August Convention has signally failed
in its efforts to organize new national party,
from fusion of the conservative republicans
with the treacherous Northern democracy.
The Maine election has shown that the new
distribution Of Executive patronage under
taken at Washington comes too late; and if
any doubts still remained that the plan of
Congress as against the Presidents plan of
restoration will sweep the North, from New
York to San Francisco, those doubts have been
way of Mr.. Johnson's late unfortunate pilgrim
age to the tomb of Western trading poll
tician.
Thus the issue between the President and
Congress has taken shape which has strength
ened the republican party on the policy of
Congress beyond the largest expectations
entertained by its leaders six weeks ago, and
has correspondingly weakened the chosen
policy of the administration. From Pennsyl-
vania westward the Boys in Blue" replace in
1886 the scenes and gatherings of !" the Wide
Awakes" Of 1860 The enthusiasm, the num-
bers and the spirit Of the republican
mass meetings, and The still increasing popu-
larity of this constitutional amendment before
the States, too clearly mark the drift Of public
opinion to leave doubt as to the general
results Of the coming elections. This amendment
Of the constitution passed by Congress will be
ratified by the North, and the Congress inter-
ested will be endorsed in a reelection sub
stantially on this broad and acceptable plat
form Of " securities for the future.'
Representation in Congress on the basis Of
suffrage, as each State may choose for itself !;
the inviolable obligations Of the national debt,
the irrepealable reputation of all rebel debts
and all claims for emancipated slaves and
the exclusion from federal Offices hereafter Of
certain classes Of active rebels, until absolved
by two-thirds vote Of each house of Congress,
are the conditions Of Southern restoration
which will surely be exacted by the North in
the approaching elections. And why should
the South hesitate in accepting these terms,
when in substance they are nothing more tina n
the putting of the Presidents terms into the
form Of binding contract or treaty Of peace,
with government stamp upon 1t which cannot
be called in question? Why hesitate, when
nothing is to be gained, but when much that
may be now secured by the South will be put
in jeopardy by delays
Why did the Executive require Of the lately
insurgent States the ratification Of the constitu-
tional amendment abolishng slavery as an in
dispensable condition of restoration? Because,
If admitted to their former relations in
the government in advance, those States,
it was feared, might refuse the ratifi-
cation, and might at any time, each State for
itself, under the constitution as il was, revive
the institution Of slavery. The masses Of the
Northern States entertain the same idea in
regard to the national debt, all rebel debts,
and all claims for liberated slaves. Hence the
resistless pressure of this paramount idea of q
bond in advance, which cannot be hereafter set
aside or repealed by Southern balance Of
power in Congress.
The North says to the South. after fighting
for four terrible years as no people ever fought
before to destroy their government, after sacr-
fcing as you have done in this war a quarter OF
a million OF ablc-bodied white men, and black
slaves an property to the value of twenty-five
hundred millions of dollars, and other property
and crops and capital TO the extent Of five or
six thousand millions, all gone beyond redemp-
tion, we must have bond in advance before
we can trust our debts and obligations to the
chances Of Southern balance OF power in
Congress We must have our conditions Of
security in advance; for we cannot place into
your hands the power to reject them. This i,
a practical view Of the matter, which every
man Of business will readily comprehend, and
herein lies the secret Of the astonishing popular
strength Of this resioration plan of Congress
in the North No man who has a fifty dollar
government bond salted down would trust its
redemption TO the chances OF the casting vote
in Congress Of Southerncr who has lost his
thousands in Confederate scrip.
We must repeat, then, to the Southern States
our earnest admonition that the terms Of this
constitutional amendment are the best they
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