The New York herald., 1867-11-20

Merchants, wholesale and retail dealers, and
men Of all business pursuits, East, West North
and South, arc anxiously looking to Congress
for some measures Of relief "Trads b de-
pressed" abusiness IL dull" 'times ere very
hard with u" "nothing i doing in our line, ars
expressions which may now be heard in any
s!ore, in any line Of business, from one end Of
this city to The other. So Il Is. doubtless 10
greater extent, in every commercial city, town
and village Of the United States Rents and
provisions are still high, our federal taxes,
State taxes, and county and corporation taxes
oppress the people moro heavily from month
TO month, while profits and incomes ere rapidly
dimiuishing and the fountains Of labor are
drying up; and 90 all eyes are turned 70 Con-
gress in the hope Of some measures Of redress.
Great reforms in our internal revenue laws
are demanded and corresponding notifications
Of our external tax laws great retrenchnents
are called for In the government expenditures,
but deficiency Of money In circulation IL the
general complaint Of business people every.
where and Of all classss There b not money
enough anoat to meet the legitimat, demands
Of trade hence the general depression. The
Secretary Of the Treasury has adopted and b
vigorously pursuing system Of contrsctions,
which, unless seasonably arrested, may culmi-
nate in the same results as excessive indation-
failures, bankruptcies, . panic and . general
collapse. ~am
What, then, is Congress called upon 70 dot
We think an act should be passed repeating the
act for the curtailment Of the volume Of legal
tender notes, and that simple legal tenders,
without interest, should be provided for and
issued in the place Of interest-bearng legal ten
ders - fast as they mature. Furthermore, We
want legal tenders In the place Of the national
bank notes - fast ~ possible for why should
twenty-five or thirty millions interest on the
national bonds % : bssis Of circulation
be paid TO these national banks, when by the
simple substitution Of greenbacks al these
bounties 70 the national banks may bssaved 70
our national taxpayers and to tho Treasury.
\ Mr.. McCulloch, his admirers say, l. moving
steadily towards specie payments; but while
gold continues on the margin Of lao the pros
pect Of specie payments by his policy Of con-
traction il not very promising. With ths ~
duction Of imports and the curtailment u
manufactures therS arc corresponding reduc-
tions in the revenue returns Of the Trsasury,
while the costs Of collection arc still incrsas-
ing, from increasing frauds and schemes of
evasion, embexx1ement and robbery. All
these things cover wide neld FOR legislstion,
and the very existence Of the party IN power
danands unnn its action nm thia narxm0unk and
all-absorbing money question. Hence the
attention Of the whole country is now turned
for relief TO Congress, where the power and
the responsibility belong. We wonld there
fore remind the party In power Of the public
wants and expectations in season for action ct
the coming session, and especially would we
warn the two houses Of the folly and the
dangers Of Mr.. McCulloch's depressing policy
Of contraction to hurry mp specie payments