The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-21

msrcal affairs In this country n the cIoss OF the year
inc cona sa 0 We, nos 20 .
Cur correspondent At Philadelphia recently gave
os dismal account Of whole departments Of trade
IN az quarters among the laLorino ctase. These
circumstances may possibly check the designs OF
such legislation IS we have seen during The sss few
years But II IL already evident that the present Legs
.n.nI. no. strong IN financial talent The country
through the maze OF It's debt and It's liabilities but
S s Guide y pot yet forthcoming General But
oI, sne leader OF the repudiafors has served good
purpose 10 proving that the feeling OF the people is
against MS proposals, and II tho direct question had
sdopted or not IL 10 probable that score of
bers would have voted with him. The plan 10 not
individual members Of the republican orgsuizstion
bring their impossible projects before the public but
the party sss = scarcely compromised By their fol.
70 bis habit; but unless he can move the West to
much greater extent than he has yet been able do
the emu wan 90 seen In the overthrow Of his reputation.
Other members OF tho Legislature whose thoughts arc
always worth attention devotng themselves to the
have Jailed 70 make any useful suggestions thus far but
the discussion they excite must necessarily render tho
A thouspnd theories have been laid before them ana
they have scarcely known how TO decide upon the merits
fau sng ~, ssaI Som s w.a bis p.. g.
entail the expenditure Of 500 600 000 he Is extrava
CANT N exempting the bonds from axatioa and,
American correspondent pointed out yeeFdny, he IL
gnguady misied In supposng that the holders OF
nse-,wenty bonds will consent to take four and
Committee Of Senate which agreed upon presenting
this report appear to have had no great faith In II
with which was By the people . srpe
evidence OF the general impression that Congress will
reject H. The committee to think that holders
hvetwenes would give up one per cent interest for
the sake OF having the remainder Of their rights guaran
teed. MI. Sherman and his colleagues win probably
have done practical service the nation In Affirming
In positive terms that the bonds whatever may appear
loose phraseology, were bought upon the distinct
understanding that they would BIO paid In gold and the
government pledged not 10 depart from this under
These questions may well occupy the time Of Congress
almost 10 tho exclusion of other domestic AFFAIRS and yet
there arc some which cannot be altogether put aside II
trade In the North ID bad It Is inevitable that should
be immeasuraby more discouraging in the South Tho
lated TO give 10 little anxiety Absolute starva-
ton threatening all classes OF the people In Louisiana
to keep their families in bread within the state nor 10
leave In search Of occupation elsewhere The Official
reports from Mississippi are even moro gloomy in their
tenor The last cotton crop was raised with great dl-
Guilty and the planters unable pay labor
Tue blacks upon this threatened violent measures and
an officer Of the Freedmens Bureau his govern
mont that "a war VI races" 10 imminent The planters
cannot help themselves bst the negroes are furious.
South The freedmen may escape from the poverty
and want which seem TO encirce the Southern
states for government helps them to emigrats,
put the ruined planter must stand idly by his deserted
helds The government can do nothing for him. Trade
must revive before he be benefited and Northern
capital must Row freely to the states which have
hitherto gone through long and unbroksn course Of
adversely. In the meantime, they still regarded
as Instruments TO be used for party purposes Mr..
Thaddeus Stevens new Reconstruction bill, which
PASSED the House before the Christmas Adjournment
is intended to bring the States into tho Union with
prcponderance Of negroes In the local government 20
that the radical vote IN the next Presidential election
may be increased The plan exhibits foresight and in
genuty. and there Is why II should
coed. At first Northern politicians thought they could
do without the south altogether the elections OF next
autumn. but they have that the contest may
possibly be close and therefore the South to be
impressed II all the ten States could be absolutely
cured the secret repugnancs Of tho leading radicals 70
General Grant might soon be unequvocay manifested
These are but few Of the topics upon which Congress
will shortly meet again TO deliberate. Without recog-
nzed leaders whose word law each party is left to
ooey the impulse OF the moment. Mr. Seward has of
late been making great advances In his grand design
extending tho o! the Union and grant re-
CURED from Congress to pay for the island OF ST. Thomas
There has already boon some cav about the money
tho principle Of enlargng the territory OF the Union In
every possible direct s popular the for
Mr. Stewards accounts to be left tong unpaid II We
could anticipate the likely to be adopted the dis.
cusson Of questions affecting Great Britain from the
spirit OF the chief American newspapers should be
encouraged in the hope that the points which the
governments In complete accord will eventually
be settled with perfect good feeling on both sides