The New York Herald Newspaper, November 6, 1848, Page 3

— = NO. 5269. ‘Views in England on the Presidential Elee= tion In the United States. [From the Londen Globe. Oct. 19 } ‘The most democratic of our American contem- poraries now seem more than half inclined toquar- rel with umiveres sufirage for ite fruits. It is all but certain that General Tuylor will be the new President—not, however, because he is a favorite with any pobtical party—far from it ; but mainly pens to stand prominently in view of the mosses who are to be moved in any serious struggle. He occupies an eminence, won, indeed, by nO Myerit apparently applicable to the discharge of the functions about to devolve upon him, but wellin sight ; and he owns a character of a nega- tive desciiption, which few can very strongly ob- jeetto, and many can make up their minds to put up with. His rivals have all something positively and strongly objectionable to some one of the great parties, in power nearly balanced, whose efforts must decide the contest. Their weakness makes hie strength. Strongly supported, they are also strongly opposed. The moderate men of bothsides will vote for Taylor, as tolerable ; and seeing that his succees 18, at least partially, the defeat of the extreme menon the Sepeite side. Recentevents, too, have strengthened the anti-movement party— the men who, under existing circumstances, greatly prefer a President who would do nothing one who would create a disturbance, even to forward their favorite policy. We need hardly that the commercial mind is extremely itive in the United States. Now the cost of the Mexican war has been coolly counted against the gains, and Jonathan 1s not elated at the balance, though he puts a good face upon the matter. Political turmoil in Europe 18 also read- ang him a lesson on the value of apeaceable main- tenance of things as they are. And the eleva- tion of either Cass or Van Buren would renew the discussion of both the abolition and the tariff questions, and that of Cass would, it is sup- Fores include some danger of a rupture with England—all matters which the counting-house interest just now would fain leave unstirred. Taylor, whose faint whiggery is little offensive to the democrats, while his Mexican reputatien is. with them, a mark in his favor, 1s so little pedged to any side of any great question, that all may hope ‘for some success, and none have much to fear. It any are especially dissatisfied it 1s those whoregard, as the proper end of universal suffrage, the unchecked triumph of democracv—who see the perfection of government in the despotism of anear-led mob. Against these the tederal consti- tution has but one defence—a rampart of money bags—the conservation that comes of the peacetul pursuit of dollars. And so strong is the influence of the changes, effected even within a single gene- ration, by the steady and ranid growth of the population end wealth of the United States, that much more may be reasonably expected from this tendency than the mere preservation of peace forthe present. | =a The dangers which threatened the stability of the Republic a few years ago, wear now a less fearful aspect. ‘* Native manufactures,” however sustained by tariffs, will not so flourish jon the soil of the United States as to keep pace in their growth with the forms of industry better adapted to it Even if maintained against their natural tendency to decline, they must, as a national interest, eventually cease to be important; and with this change must come a correspoading failure of power in the legislature. The slavery uestion may be more difficult to settle ; but even that draws towards a settlement under the same influences, if only by force of that provision of the feceral constitution by which the structure. of the House of Representatives is remodelled, every ten years, upon the basis of each new census. For in- stance of the 216 representatives and three delegates which formed the house, as elected upon the ar- rangement made after the census of 1820 (giving one representative to every 40,000 of the popula- tion, and five slaves counting as three free per- sons), the thirteen old States returned 158, and the fourteen new ones, including the unincorporated territories of Michigan, Arkansas, and Florida, the remaining fifty-eight. By the act of Congress of 1842, founded on the census of 1840, and giving ‘one representative to every 70,680 of the popula- tion, the 158 members for the old States was re- duced to 132, while the 58 for the new States was raised to 95—giving a new total of 228. This pro- obviously strikes directly at thc influence of the manufacturing interests of the old Northern States, which have no chance, under any possible tariff, of seeing their peculiar interests reproduced or extended to the westward. Similarly, the slave holding States, which, un- der the act of 1823, returned 97 members against 124, now return only 92 against 131. 4 The equality preserved in the Senate, by giving two senators to each State, without reference to population, offers, it 1s evident, but a feeble bar- rier to the progress of the free-trade and anti- slavery movements (hitherto in antagonism in America) thus urged oa by the same means. __ [From the London News, Oct. 19.] An important step has been taken towards the solution of the Pesidential question, which 1s now the all-absorbing topic with American politicians. Shortly after the party nominations in May and June last, elements of dissension made themselves apparent both in the whig and democratic ranks, and led at length, in either case, to open disaffec- tion and division. “A respectable mmority of the whig party were extremely dissatisfied at their favorite candidate being set aside to make room for Tayler, who, whatever proof he might re- cently have given of his capacities as a soldier, had never manifested any ability as a statesman. A large section of the democrats were equally averse to the nomination ot Cass, chiefly on the ground of hs known [hile for slavery. Se- cession took place in both cases, but that amongst the democrats was most serious, a strong abolition rty declaring that it would vote for Van Buren. itt rendered the success of General Cass exceed- ingly doubtful, although, for a time, his chances were Soir by the attitude of his opponent, Who only late Hotled that reserve upon party questions, which, for a time, perplexed his friends, and compromised his position as a candidate. General Taylor totally musapprehended the feel- ing which prompted his nomination, Had ittakea place immediately alter his military successes in the Rio Grande, the prestige of his name might have secured him the adhesion of the mass of both aities. But as time wore on, the popular ardor in fis favor had time to cool, whilst the operations of General Scott on a more importanttheatre dimmed to some extent the lustre of his achievements. The democratic party then learnt to regard him simply in the light of a whig candidate, and as such, of course made up their minds to oppose him. Since his nomination, therefore, he has been purely a party candidate, relying for success on aparty vote. It was some time, however, ere he perceived this, consenting to stand, but profes- sing his intention, if elected, of being no party President—p ofeseions which might be patriotic, but which, under the circumstances, were, to say the least of them, impolitic. They savored too much of trimming, and were so indicative of party defeat that the section of the whigs who were dis- satisfied from the first at his nomination, open- ly substituted the name of Clay for that of Taylor as their candidate. a : § Both parties being thus divided, it was speedily seen that succees was most likely to await that which would first reconcile its differences. To eflect a reconciliation in the Wie ranks, it was necessary that General Taylor should make the firat move. ‘The friends of Mr. Clay would only supperi him as an avowedly party candidate, He had, therefore, presented to him the alternative of Joeing his election or of shifting his ground. He has rudentlyf chosen the latter, and now appears be- fore the electoral body in that distinctive patty character, which, had he nightly appreciated hie sition, he would have assumed from the very first. Gen. Taylor having thus definitively given in his adhesion to the patty, the friends of Mr. Clay no longer hold out against him ; that eminent mer himself being the chief actor in the reconcil- jation which followed. ‘This important step renders his success at the coming election almost a certainty. In addition to thia, there are other considerations which bear upon the contest, and which tell favorably on the side of the whig candidate. The events of the day and the perilous nature of the times, induce the more reflecting portion of the community to consider well the character of the man to whom they would entrust, forthe next four years, the destinies of their country. Whatever change the respec nsibilities of actual power might eticet in his condact and disposition, the antecedents of Gene- ral Cass have been such as to lead them to believe that the tendencies of his policy would be unfavor- able to the maintenance ot peace ; and to a great commercial count:y like the United States, next mM magnitude to the disasters attendant upon the contemplation of actual war ate the evil which would arise from the anticipation of being kept constantly on the verge of it. ‘The moral and po- litical world is, at present, in too inflammable a state to enable the friends of peace, on either side of the Atlantic, te regard with indifference the cecvpation by a firebrand of the Presidential chair at Wushineton. And what gives us 2 peculiar ia- terest in the matter is that the morbid antipathtes of the democratic candidate are almost exclusively directed against ourselves. As the passions of some animals ate inflamed at the sight of anything scurlet, so are his animosities excited at the name of England, or Englishman. It is this unfortunate idiosyneracy that renders him peculiarly ob- noxious to the more sober-minded of the Ameri- can community, for, whatever turmoils may arise to disturb the relations and interrupt the commerce of the world, it is of the last importance to both that England and America should keep on terms of amity with each other. The dangers which might attend the elevation of General Cass to the Presidency are not obvious to whigs alone, a large proportion of the democratic party being equally sensible of them. This will fortunately operate most unfavorably upon his chances of success as a candidate, for not only will a large democratic vote be given for Van Buren, but many democrats, who have no partiality for the abolition nominee, will abstain from voting for Cass, that his election may be defeated. On the other hand, there are many whig abolitionists who will vote for instead of Van Buren, in order that Taylor’s elec- tioa may be secured. Their sole object in voting for Van Buren would be to make an abolition demonstration, Under existing circumstances, however, they wisely prefer the earantes of peace to any such demonstration. Their object, therefore, will be to keep Cass out, which thev can only secure by putting Taylor in. They will thus go far to atone for the grave error which they committed in 1844, when, by their ill-tmed defec- tion in New York, the whig abolitionists secured the triumph of Mr. Polk over his more worthy competitor. We may, therefore, regard the election of General Taylor as virtually a fart accompli, and what concerns us now is to inquire how the event is likely to affect the interests of this country. It ig not to be denied that, in a commercial point of view, our sympathies are with the party whose success would be indicated by the election of General Cass. The triumph of General Taylor will, for a time, put in the ascendant those who are inimical to our commercial and industrial pros- perity. But, taking into account all the cireum- stances o! the case, this, at least for the present, is likely to lead to 20 material change in the com- mercial relations of the two countries. The whigs would disturb the tariff if they could, But they have no longer the great agricultural body either with them as tormerly, or indifferent to the sub- ject. The settlement of 1846 was the conjoint work of the South and West, and the results of that settlement have so completely falsified the prognostications ot the whigs, that the West will be in no hurry to countenance its disturbance. Every nerve was strained previously to its adop- tion, but in vain, to convince the farmers that whilst they would reap no advantage from it, its first result would be a largely deficient revenue; and both Mr. Webster and Mr. Evans, as spokes- men of the protectionists, went into elaborate cal- culations to show that the menaced deficiency would be nearly equal to one-third of the revenue required to cover the diflerent branches of exven- diture for the year. Never were vaticinations proved to be more utterly groundless. Not only did the eceipts during the first year of the opera- tion of the new tariff considerably exceed, the es- timates of its promolery but ‘the agricultural body experienced so palpable an advantage from it that it will require no little cajolery to induce them now to abandon it. The time 18 past, then, when a whig triumph was necessarily the p.elude toahigh tanff. On this score, therefore, there would be no apprehension for the present. -Some litte concession may be made to Pennsylvania, in connexion with coal and iron; but no change is immediately practicable, which would not be. abundantly compensated tor by a continuance of the inestimable blessings of international amity. This consvlatery view of the case supposes the whogs to bein the undisputed ascendant. Such is the present temper of the public mind in regard to. the tariff, that even had they the three branches of the legislature entirely in their own hands, they would hesitate ere they attempted any essential modification of the act of 1846. But the election of Gen, Taylor will not give an undisputed ascen- dancy to the whigs. For the first two years at least of his administration, he will have to con- ircnt a democratic Senate, the posionty in which will be sufficiently large to baflle any attempt which might be made at fiscal reaction. The ma- jority will be almost exclusively composed of the immediate followers of Mr. Calhoun, who will thus hold in his own hands the balance of power in the upper branch of the legislature. The cause of peace and that of free trade, could have no bet- ter guarantee for their maintenance than this. With the Senate in such hands there is but little dangertrom the inflammable democracy on the one hand, or from the protectionist whigs on the other. We have nothing then to fear, but every- thing to hope, from the election of Gen. Taylor ; and it is consoling to know, that when the events of a day may moke our hands full nearer home, no disturbance need be apprehended in our relations, either political or commercial, with that great, nation, which 18 at once the greatest consumer of our fabrics, and the granary from which, in times of ecarcity, we may always reckon on making good our own deficient supplies. ree the London Examiner, Oct. 8.] To all who take an interest in the well working of American institutions, indirectly, to every na- ticn in which liberal principles are struggling to maintain their ground, and directly to ourselves, whose natural desire it 1s to stand well with the kindred republic, the present aspect of the impend- ingelection in America should be far from un- pleasing or distasteful. Chancellor Kent called the presidential election the experrmentum crucis ot the republican form of government, and clatm- ed {or it, not without strong faith in the discretion, moderation, and integrity of his countrymen, a certain period of probation. The time has not expired, but we cannot say that hitherto its success has offered ground for congratulation. Worse than even the predominance of unreflecting and rabid patty spirithas been the ascendency of trading oliticians. Even whena successful rally had been made round a chief like Jackson, who, with all his crotchets and eoarseness had purpose and a manly energy, the fact has been painfully obtru- sive, that the election wasa mere scramble for lace. The proecription of all holders of the most insignificant office, who were not members or time-servers, of the ascendant faction, and the avowed bestowal of emolument and place as the reward for serviceable canvasses, have placed the mob-courtiers of America on as low a level as the old king-courtiers of France. Every dignity and duty, of the State has been lowered to an el2ction bribe, and the highest as well as the meanest ap- pointment counted but as payment for past or re- tainer for future service. The appearance of Mr. Tyler and Mr. Polk in the seat once occupied by Washin ton, Jefferson and Madison, seem- ed really to be almost decisive against any future possible realization of the hopes or of Chancellor Kent. We rejoice to think hat matters are mending. The nomination of General Taylor, and the course of his relations with the party of which he is now the declared representative, indicate better prospects in the re- publican horizon than have been visible for many It is yet possible that we may see * dis- wretion, moderation, and integrity” prevail in the choice of the chief magistrate of Americe. General Pay lor is not a trading politician. The qualities he lately displayed in the field, and the jndgment with which he kept himself aloof from the ¢x- treme patty that had obtained his service as a sol- dier, concentrated public attention and esteem upon him. He is the only man, we believe, since the greater race of American Presidents, who so at once united many parties, [By democrats and whigs in primary assemblies, in separate and mixed meetings, he seems to have been no- minated; these nominations he appears to have accepted, one after the other, without concealing or suppreesing the fact that he held the opinions o' the whige ; and, now that the whigs as a body have named him their candidate, he frankly tel!s them that he will not be a party President. We have here the promise of a brave and honorable man, unecntaminated with party madness. A let- ler just published by General Taylor, to correct some misconceptons that had gone abrcad con- cerning him, confirms our impression of his worth. There 1s nothing in the letter which indicates genius or imaginative impulse, but it 18 marked by strong good sense and excellent feeling. - Its wniter understands and discriminates the position and daties g& the chief magistrate of a great re- public. He can combine the honest maintenance of his own opinions with constitutional deference to the national will. General Taylor declares that he will not be a candidate in a straitened and sec- tarian sense. Having no wish to be a partisan President, he refuses to be a party candidate in the sense that would make him one. | He does not engage to “lay violent hands indiscriminately upon public officers, good end bad, who may differ in opinion” with himself. He will not force Congress, by the coercion of the veto, ‘to pass laws to suit him or pass none.’ Are we not justified in regarding the prepay: choice of such aruler as a good omen, both fr Englard and America? Public opimon may work iteelf clear under such auspices, and the better parts of republican government develope and _per- ! fect themselves. He may save us at once from the war factions of democracv, and the protection- ist divisions ot the whigs. ‘We look upon such a presidency, now we hope almost certain, as full ot promise for the internal prosperity and happt- ness of America, and for the perpetuati: n of ami- cable intercourse between the two great Anglo- Nerman nations. General Cass is the only rival candidate with the shadow of a chance agaust him. Mr. Van Buren will hardly goto the elec- tion, and Mr. Clay has not sanctioned the use of his distinguished name. Mr. Cass is the nominee of the extreme democratic party, and is reported to have secured the ardent support of all the Irish in the Union, by his sympathy with the cause of repeal, and by his known determination, in case the rebellion of Ballingary had succeeded, to have marched forthwith into Canada. Mr. Cass duly proclaims these extreme opinions, of course, and makes a Jong arm across the Atlantic to fra- ternize with tne Flocons and Ledru Rollins. Yet it may not be amiss to remind hiscountrymen that it isnot six years since this same brawling Mr. Cass wrote abook to disparage the English go- vernment, and exalt the government of Louis Philippe, in which he branded as a traitor every Trenchosan who crores himself to that despica- ble system, and offered the most prostrate adula- tion to the citizen king. This was while the worst of the Orleans invasions of liberty were in progress ; and yet the institution specially singled out for praise by General Cass was that slavish Court of Peers which was doing precisely the ser- vice for Louis Philippe that our star chamber did for Charles the First. The election of this despot democrat, this busy fomenter of the jealousies of nations, would be the most lamentable mistake et committed by the extreme faction in America. he election of General Taylor, on the other hand, will show that as men unquestionably still survive in the United States not unworthy to be named with Washington, Franklin and Adams, so the large majority of the American people are still able to appreciate and worthy to be served by them. Hungary, The news of the Vienna insurrection became known at Pesth on the 8th ult., and excited the utmost enthusiasm. Kossuth made a thundering speech, As the Viennese had furthered the Magyar , he said, Hungary ought not to abandon Vienna, No negotiations whatever were to be entered into with the Camarilla, but it was the duty of the Hungarians to tacrifice themselves in assisting the Austrian people. ‘The government was entrusted to the committee for the defence of the country. Kossuth was nominated president, and it was rerolved that, on the very same day, troops should march for Vienna. Bohemia. The Kélnische Zeitung has letters from Prague of the 18th inst. They eay that by the events at Vi- enna the gap between the German and Czechish in- habitants had been widened. In the Slavonic Centr Blattern, a fanatic attempt was made on Germanism and on the Frankfort faction. The Slavonic agitators Hurban andStur, excited the students against the Mag- yare; there were also bitter words utterrd against the Germans, The deputy Rieger asserted that he was able to prove that the movement at Vienna had been effected by Hungarian money. All speeches in the University of Prague were delivered in the Cxechisch language. Prnasia. The Kélnische Zeitung bas the following from Berlin, under date the 15th ult “The king, on the anniversary of his birthday, reovived a deputation from the National Assembly in-tke pelece ot Bellevue, near Berlin. In his answer to their address he said, alluding to the abolishment of his title, King by the Grace of God,‘ We are upon the point of building a structure which is to last for | certuries. But, gentlemen, let me direct your atten. tion to one thing. We still porsess, and we are envied cn account of it, an hereditary government by the Grace of God’—(theee words were uttered with a peculiar emphasis by the king)—‘ which is still endowed with a fullness of power.” At the close of his speech, the king eaid—' Gentlemen, I am glad to have seen You; itis good to ree exch other now andthen.” The ing, during the reception of the deputies, was pecu- liarly affable, cheerful, and amiable.” Dratn or M, Louis Bianc’s Farner saire announces, on good authority, that MM. Louis and Charles Blanc, Jately at the head of the off fine Arts in the Ministry of the Inte- rior, died at Dieu about a week ago, in a state of utter destituti Affairs ican Republic. Crry or Sr. Domineo, July 12, 1848. Omission in a@ former Lettcr Supplied— Recent Leguslatwe Enactment for the Encouragement of Ming Operations—Another Remodeling the Monetary System—Public Excttement Inciden- tally Connected with the Latter, and the Caus of it. mh the synopsis which I gave, in a former com munication, of the principal articles of the Domi nican constitution, I omitted to notice one to which recent occurrences have attracted much attention and given considerable prominence. By its terms, the President is empowered, during the | continuence of the actual war with the Haytien | republic, growing out of the separation from her, and until peace is established, to freely organise the army and navy, mobilize the National Guards, and take all measures he may deem proper for.the defence and security of the nation, and in cons quence, to issue all orders and decrees proper for that end, without being subject to any responsi- bility whatever. 1 now supply this omission, to illustrate some future details. | , The gold mines of St. Domingo are celebrated in the early history of the nev world, as being the incentive that gave the first impulse te Spanish adventure and enterprise in America. These have | remained unwrought, to any considerable extent, for a long series of years; and the government has | heretofore refused to permit the working of them, from the fear, it is said, of strmulating the cupidi- ty of their enemies, and also, perhaps, of foreign nations. Besides those of gold, there are also, as I have mentioned on a former occasion, mines of | copper, and very probably of silver also, within the territory of the republic. By an act of Con- gress, passed at the recently closed session, and approved the 16th ot May last, itis declared that the working of the “ minerals,” or mines of every description that are found on the public lands, is open and free to every individual who may choose to engage init. Arrengementsforthis purpose must | be made by those intending to avail themselves of the privilege with the Minister of Finance—Mt- mtstro de Hactenda—who 1s authorized, under con- tracts of lease or otherwise, to stipulate, in behalf | of the public treasury, for the payment of a per | centage by the operators—never to exceed the maximum of five pes cent of the metal wrought. The terms of the act specify individuals only. Whether the privilege conferred by this enacts ment would be extended to organized companies, formed to carry on mining operations on an ex- tensive scale, in the usual way, and such as there have heretofore and recently been attemots made to organize in the United States and elsewhere, | with a view to operations here, may possibly, un: der the peculiar circumstances of the case, and | the present tone of public feeling, admit ef some doubt; though I incline strongly to the belief that no Mince hae to such a plan of operations would be officially interposed. The most important measure that came before the Congress at its late session, and which en- grossed a much greater share of its attention than apy other, was the monetary system—the de- vising of ways and means to place the cur- Tency on a better basis, and to restore the circulating medium of the country to a bet- ter credit and conditon. This I have heretofore shown, had deprectated to fifteen for one dollar Wrath and the tendency has since b very slightly downwards. At last the Congress, after protracted discussions, in the course of which were snecessively examined and rejected eeversl ditle- rent schemes, agreed upon a system which they embodied in an act approved on the 19th day of June last. Itis entitled, in substance, an act to provide for the deficit in the treasury, occasioned by the insufficiency of the public impagts, and by the consequent depreciation of the government iper. 3v it, the Executive is first directed to have the had money now accumulated io the treasury, and the future additions thereto, to the amount, in all, of one hundred thousand dollars, converted into milled coin of the United States, ofthe several de= nominatior sof five,ten, and twenty five cent pieces, provisionally, until such time as Deminician silver can be minted, It proceeds to direct that all old silver, wrought or unwiought, which the inhabit- ants may see fit to deliver into the Treasury De- partment. shallbe sent abroad to the United States, or elsewhere, and its value returned to the owners in coined money, at the rate of ninety-five cents per ource troy, of the metal delivered, and of the same quality of fineness. To provide for the replacement of the present depeciated government paper money, which it is contemplated to call in and cancel, the Executive is authorised to have prepared, and to iesue a new, emissien of paper money, based on the credit of the National Treasury, to the amount of $250,000, and which the public treasury is to guaran‘ee for forty cents, hardimoney; aod also, the further migsion ot 150,000 bills of the nominal value of two dollars each, and guaranued in like manner and rates. The whole ot both which emissions are to be ready for issuing, at latest, by the first of January, 1819: He 18 also further directed to have prepared an additional quantity ot 375,000 bills ot the denominations of one and two dollars, to be laid by 1n reserve in the treasury department, to be ured for the purpose of expanding the monetary circulation as soon as the condition of mercantile afluirs, and the state of the country, call for it. To hasten the withdrawal of the present issue from circulation as soon as the sum of $25,000, in coin is imported, as before provided, dues aceru- ing to the treasury shall commence to be paid, half in the new small coin and half inthe present currency: the latter at the rate of ten doll irs to one, while the old paper thus called in 13 to be cancelled in due form, And the act goes on to declare that a portion of this new coin, which will thus find its way into the treasury, may from time to time be appropriated, in sums. not exceeding five thousand dollars at any one time, to the pur- chase of old silver at the rate before designated, and which shall be coined in like manner. Alter proceeding to many specific details—ot no par- ticular interest to my present purpose—the act finally empowers the President to raise, by a loan. foreign or domestic, on credit or by moftgage of the national property, the further sum of 100,000 to 150,000 dollars, to be appropriated, when ob- tained, to the withdrawal and cancellation of the same amount of the present circulation. It will be observed that the foregoing act fixes the value of the old emission, to be allowed at the treasury, at ten for one ; whichis, in fact, the rate at which it has all along been received for the custom-house dues that were payable in that cur- tency; while, as has been before seen, the market value of the same currency has been only fifteen for one, with a downward tendency. Now, how- ever plausible the charge may at first appear, that the government, by receiving their own paper only ata great discount off from its ostensible value, though it be still a less one than 13 exacted in the market, 1epudiates a large portion of her debt in this form, it must in justice be remarked, that this issue neve: did circulate at par from the be- ginning ; and much, if not most ot it, went into circulation with no higher mtrinsie value attached to it than its authors now allow for it on its re- turn. For any slight practical repudiation there Qn be init, there are still, in extenuation, the siugating circumstances ot overruling necessity, nd the high examples of greater and far more wealthy nations. As to the question of what will be practically eflected under this scheme, that is quite another aflair; and I confess myself unable to discover what 1s at last to guaranty the new paper circu- ):ting medium that is to be issued at market value, at the rate per nominal dollar prescribed by the act—in other words, to save it from the fate of the old emission. With a nearly empty treasury, and with governmental expenditures that each year more thun consume the annual revenue, what cen eave it from a rapid depreciation—f not norninal, at least actual, in the shape of enhanced prices of all commodi tes ot consumption 1 No great results can, I fear, be anticipated from the coining—in other _werds, sale of the old silver to be found here. The Haytiens made too clean a sweep for that, when they got possession. And as to the authorized loan, still less, it is te be teared, can be hoped for or realized from that. No; evade the issue asfthey mayfvainly’attemnt to do— beat about and try to shun the real rock of diffi- eu'ty as Jong and perseveringly as they please— still this government must, at last, adopt th« only effectual means of removing it They will be broken in pieces upon it. An efficient and exten- sive system of agricultural improvements must be instituted, and its growth fostered, as the only ture basis for monetary and every other kind of Fubility and 71 iy to the “state ; prospe! and this can only be effected, as 1s, in eff=ct, ad- mitted by almost everybody, hy foreign immigra- tion. Ah! but the danger of the overthrow of our state religion—the subversion or seizure into their hands of the government by a horde of foreign adventurers !—we are afraid of them! And so the only remedy for a great evil, or train of evils, 1s shunned, and mere airy schemes, based on nothing but a gossamer tissue of finan- cial devicee, are elaborated with careful inge- nuity and patient toil, to end in nothing. The hard money alluded to in the beginning of the above act, and on which all the legislative de- liberations had been based. was the sum of 53,000 dollars, reserved in the chest of the department Jor this purpose, “hich surplus had occurred, not- withstanding the fact of the governmentexpendi- tures surpassing in amount its revenues, by the disbursements being mostly made in the paper currency, while a considerable portion of the gold of several years’ acérual from import duties has been retained in the treasury. Some unfavorable rumors having got abroad, the Congress, on completing their labor of dev:- sing and drafting the new monetary system, ap- pointed a committee to proceed and examine the condition of the strong chest; when lo! a large deficit was discovered. The city was soon all in an uproar. Every body accused the minister of having converted the funds to his private purposes, and some went so far as to implicate the Presi dent himself in their suspicions. The lower house demanded an account of the mnniste: which, onthe refusal ot that officer to submit, any farther than to declare thatit had been appro- priated to the legitimate purposes of the govern- ment, that body proceeded to impeach him. The uprer house, however, on examining into the case, refused to ratify the measure, as was necessary to render it effectual as an impeachment. and so it | fell through. The President, who had been ab- sent from the city for a long waile, on account of his health, returned highly incensed at the pro- ceeding of the House, and threatened to banish certain members who had been most active in the measure. But the affair was finally compro. mised by the House receding from the ground they had taken, ead acknowledging they had acted with precipitation. Another ground of irri: tation was also embraced in this rather singular compromise, or “making up.” Some ot the same active and bold members had somewhat warmly discussed the propriety of defining and I'miting the, in some respects, dictatorial power conferred on the President by the article of the’con- stitution herein before noticed. They maintained that the executive had, on several occasions, in practice,given a somewhat latitudnarian construc- tion to its provisions, which, they contended, were intended to apply for certain purposes only, to ener times and emergencies. And so ended, at least for the preeent, this serious misun- derstanding between the two branches of the government, and which, for some days, threaten- ed the most disastrous consequences. During this period the publie excitement was intense. Neaily all business was suspended by day, while the streets and places of public resort were de- serted by might. Rumors of plots and conspira- cies for putting the obnoxious functionaries out of the way, and substituting others in their stead, were constantly rife, acd everything seemed ripe for intestine commotion and revolution. A por- tion of the residents were apprehensive, ind, P think, not without some good reason, that, in such a case, scenes similar to those which have, of late, been enacted at the Haytien end of the island, would be reproduced here, or, quite as likely, the far more appalling tragedies so fre- quently enacted in that portion of the island near the close of the Jast century. But the tempest, which at one time seemed to be so fest gathering to a head, to sweep down, like the hurricanes of these latitudes, with desolating violence on this city, has hanpily completely dis- sipated itself; and our political heavens again wear, in their usual degree, an aspect of serenity, at least, though it may be, not of tropical brillan- cy and eplendor, 2 ‘ ‘The President etill holds firmly his uneurtailed authonty ; and it may, after all, T think, be well questioned whether this rule of the strong hand, at least, in cases of moment and emergency, 18 not the best for this people ¢ and, indeed, the only ore tor which they are, ae a body, as yet prepared. Nor dol believe an instance can be pointed to, where President Santana has abused it to the pur- poses of cruelty or revenge ; nor, after fully weigh- ing, ae well as] am able, in my own mind, the various conflicting rumors, charges and aseertions, on the one side orthe other, amI much more in- clined to believe that he has perverted it to pur- pores of extortion or peeiatine otany kind. And, in regard to the charge of embezzlement made against the minister, and at one time cer- tainly almost universally believed, 1 confess, that on sifting the evidence against him ear*fully and dispassionately, it certainly appears execedinaly vogue and flimsy, His own general statement of the character of the appropriation is plausible and rational; and Tam very. much mistaken if the finanetal report of that minister, and any, corres- ponding investigation.that may then be instituted to verily or falsify it. do not prove}the correctnesy “of this favorable conjecture, Tune will disclose td in bills of the nominal value of one doar each, poeitive or probable truth, and then, verémos. The Grand Torch Light Procession—A Scene in Tammany Hall—Brigadier Gen. George P. Morrisin his War Boots—Breveting the Democracy. Temmany Hall isa funny place. Could the funny performances that have been enacted within these old walls for the last half century, be duly chronicled, what a treat would be furnished to the reading public ofthe present day! Bout, alas! the remembrance only exists witu rome of the old beads, still living; and even most of them are barnburners or whigs, and do not darken old Tammany’s portals in this yearof our Lord. We have heard a recy tale of late proceedings which ig decidedly too good to belost. It seems that some of the present leaders, who are, of course, found in that body, designated as the Democratic Republican General Committee, decided that a Grand Democratic Torch Light Procession was just the thing to rally th® boye, about these times; and so it was voted in solemn conclave, that a Torch Light Procession should come off; and that extraordinary democratic organ, the True Sun. was duly instructed toannounce the fact in the wu ual editorial and advertirorial manner, as coming off on the night of Thursday, Nov 2. A committee of one from each ward was appointed to arrange the matter, and in order to carry out the plan to its fullest extent, another body of democrats, whore organization extended acrose both rivers. into pg Island, called the “Cass and Butler to be consulted. The delegates from nd Butler clubs met in one room of old many, and the sub-committee of the real Simon Pures, the General Committee, met in the committee room. Committees of conference were apprinted but they could not sgree The club delegations wouldn't knuokle under to the others. Personalities followed, and » serious fray was likely to ensue, The old heads were called into council. and they ad- vised to cut the matter short by carrying ont the plans of the committee in their own way, and only allow the other to carry out the details in the respective wards to din. and har- then took the and in eornest, and proceeded to elect a Grand Marshal, who, of course, was to bo selected from our military heroes, Gen. Storms was pitched upon. He was a democrat, and @ glorious fellow, and popular with allhande; but, of course. the general ad to choose bis assistant marshal, and the committee left him to select who he d— pleased, provided they wont Cass and Butler, and nobody else. Then these assistants were to select their special aids; and here the individual members of the wigwam committee de- termined to have a flager in the pie, for their own amusement and that o, their friends ; and a commit- tee from their own body was deputized to attend to these fixings. and keep the Grand Marshal and Grand As-istant Marshals democratic ship-shape and in ord’r, Gen. S:orms pulled off his coat in the old gathering place, and selected Gen. MoNeil, of Rhode Island me- mory; Gen. Morris, the poet; Gen. Walbridge, of Ohio; and Col, Manning, of the militia service, as bis choice for Grand Assistants. So far x good ; the democracy were satisfied ; but now comes the tug of war. Special Aids were to be given to all these high officers, and the committee felt | tbat they had men intheir our ranks who could ride shorie avd handle a baton as well as any militia cflicer in the rervice, and they were not to be choused out of the arrangements and glory for which they had to foot the bills, Oh no ; no such dodge as that could be allowed; und while the Grand Marshal filled up his iiete with returned Mexican war heroes, as well ai from peaceable militia heroes, the committee had equal number of men for him to nominate from their own ranks. Gen, Storms, like an old experienced tactician. av is, submitted gracefully and with pleasure to what ew would bave to te, and the civil cers than he did of 18th or 19th ward democrate, and he was the first to hick. The arrangements for the programme were | ready for the press. The Grand Marsbal,den, Si pleased aud the committee were satisfie general bad retired to his quiet home, and left his estistamts to talk over matters with the committee men “Whe the devil are all these chaps?’ says General ™ he looked over the list. * Who are what ?”’ replies the committee. “Why, where did Storms get all these names from ? I don’t know them.”’ “These vames! Why,most of these nemes are members of the General Committee of Tammany Hall, sent here by their respective wards.” * Ohthey be d-—--d; they are mere civilians. We vant mifitary men ; men who know how to do up the ‘bing ar it should be done.” eaid General Morris. “You do, hey, Well, Bill, I say the General is all right—let’s give him military men Good night, old boy. You just look in the papers in the morning, my knowing chap, and you'll see itsall right, and that you have got military men. We'll leave the mere civilians out of the list altegether.”’ “Good night, gentlemen; | think you will find my proposition decidedly the most striking,” said General George P. Morris, and exit. “Well, fellows. That fussy chap has gone; nowlet’s go to work and finish up that programme as he wants lone.” “Hell and feathers! What? Why, Bil), are you mad? Leave out all the General Committee mea and our own friends? That be d—-a!” “No, Tom, you don’t understand me; I don’t exantly mean that; but still, let’s give him military men. Holy Moses! aint our committee as much military men as any of bis own ducks?!” they are just eo. They are as lonels and Mejors and Captains in the democratic ranks as bis’n is “* Well, are we ali agreed it shall be so?” * Certainly we are—now heave ahead with the list— {ive got to go up tos meeting in our ward before I go ome. “Read over the names of the ep¢cial aids; commence with the Ist ward.’ “ Jo Scovill;” “ mark bim a Colonel.” “Get out, He is no Colopel ” “Damn it, Tom, you must have some rule to go by; mark all the General Committee men colonels, and done with it.”” “ Wm. Blair.”’ “Put down Colonel” — “Bot — “Oh, d—n the odds—he’s on the General Committee,”’ “N. Diamond—ditto to Mr_ Burke, as the orator said,” “ Second ward, Wm. Burkhead.” “ Mark Colonel—He is on the General Com.” jott—He aint » committee man.” ct—never mind; mark bim « colonel— cultivate him; he is foreman of the Herald, and may do us some good.” Third ward, A. J. McCarty. © Colonel, he is 8 com. men.” “P, G. Maloney—Well, mark him @ major; he used to be amember.”’ “Wm. © Bolton.” “Oh, stick Bill down colonel, sure; he is one of em.”? “Go on; mark what you know sing out; when you come across ® real military man, give him his real title, eure, or else them generals will tay we're a making sport of their subs.” © C. W. Newton © Well, call him Colonel. He was on Mandy Hart's Congrestional convention ” “ Eighth ward, R. J. Compton.” “Ob, never mind them 8th and 9th ward chaps— leave ’em plain.” “ Tenth ward” “ Leave ’em ditto,” “Eleventh ward, William “ Colone), by J—s—nothing else.”’ ‘James Fury.” “Let's ree; Jem isa Cassand Butler Union; give him a mojor-hip.”’ “ Thomas W. Brennan.” “He is on George Law’s convention; major him, too." “ Twelfth ward ” «“ Never come down, except MeCarty, and he won't ferve”? “ Thirteenth ward, W. W. Fream.” “Sam Rogers—give him the tip top of the heap— make him s general—he is an alderman, and while your hand is im, make Campa ditto—general E. EF. Camp. or be’ll be @ blowin’ on us all over town.” ‘ourteenth ward, B B. Purdy.” grapd asristant—that’s honor enough— ditto Tom Jenkins; he is another as- more of literary and militia yhen you get aground, tistant grand. “Fifteenth ward—John J Cisco."’ “Oh, plain; he turns out with the General Commit- tes.” “W. E. Denpis”’ “Colonel, of cours General Committee “Sixteenthth wat “Colonel, of cours “Seventeenth ward—Joseph T Sweet.” “Colonel of covrse—on the Committee.” i “Thomas MeSpedon—he is on the Committee. ver you mind, cut him down a reg; hasn’t been hb mark him down to major.” “Bighteenth ward—W. H. C, Waddell” “Let him atone; he was up for Congrese.”” “E,, B Shepard.”? i “Up for Recorder—Go by. You may want a friend at the Sessions bye and bye.” “Put J. R Meran down as colonel; good fellow, and goes old Lewie up tothe hub. Stick Tucker in fora captain, Now, hess. have you got through’ “Here are some names | don't know. them as you think proper—colonels, Run the chances, Now, then, let’s adjoura. the Jist to the printers, and then take a drink. (That's the talk; saints and sinners, won't Gen. Morrig open his eyes to-morrow morning? He don’t know Rothing, be don't rm * Don't conceive whata fertile country be resides In, Bh @ if he does, We've brevetted the whole iter right?"* ‘ nderment the mext morving amon: a oereey In the Teapective wards, ‘ fivding their plat ighbors and political friends ra at ome ‘as if by magic, into military officers ‘The new created, suffered during the apo of drinks they hadto pay for, im Ne- TWO CENTS. of Edge, the great fireologist. had bee: qui ‘The rand courell room ene ilieaieeey orks were ready, and Mr. F, a Marsbai ‘and his’ civil aadatings ove jallo! there ic Morris w; hie steed has fung bi Good heavens’ what's ss amar with them Beet? here goes a horse and a mean down ’ But, bye-and-bye order is restored; 0 silenced. “ Now, then, move that Drummond light up Chatham above them bricks, avd stop them d—d fire works watil the procession gets off, commands the Marshal, and awa; go the aids to carry out the mandate. Fire tp shat Drummond light.’ says the Grand Mi and the whole scwne is at once illuminated by ite stream- ing rays far through the different streets, ‘The Grai Marshal and his aids are placed at last. The pom Moves on at the word of command. A thousa cheers come out of as many different throate goon 0s mevelpanenehete. Oe “But what the devil is that ahead? More ef those d--d fre-works up Chatham street, as I'm sinner,? says the Grand Marshal-—and no think the horses, they come toa dead halt, Spurs are no go—but rock- ots, Bengola lights, and Roman candies are shot, Ax, bang, lively now, among the horses, and away they go. “Hold my stick.” says one Marshal, "and Obrit won't I be thankful, if | only get +afe out of thia pool rays Judge Jef. Smith; and away shoots the frightens horse and rider down James street, witha ‘ean- dle shooting after him, © Here, boy, 1s a shilling, horee till In God's name hold my special. Chatham squara ibs id his aids in sat majority of ‘em. » let us go back to ‘There is acar drawn by eight horses, forge is in use; they are drawing out of the farnace the red hot bar; the crowd oa the t car,” shoute man t) the side walk; he The Assistant Marshal “What is all this?” Great God. what » sight meets hiseye! And as he lends bia aid the tears are roliin, down his cheeks, ‘For twenty processions I would | not have bad this happened,” says he | Col. Dennis is there too, and poor Bill is in tears at the sight. Some of the bystanders take the fellow, who but a moment before was all life, am ulting at the ii ination with bis fellow demos hh an ineensible mass ¢f clay, to the surzeonsofthe New York Hospital. “Telle est lavie,” exclai the demooratio philoso- pher,and on goes the mass of living bel The GM. parses up the Bowery—more of those infernal fire-works ; and now come some of those whig omni- buses. The drivers ply their whips, just as if they thought to ecare demo 8. But look at Professor Grant. Like his namesake Jem, he keeps his eye on the picture He turns the pointe of his light tlap dash at those horses? heads—two reconds do it; the horses stand as quiet as lambs shivering in a frosty morning—they are too astonished to travel; it beats Barnum’s small affair; they don’s knew what to make of it, and ro stand still until Grant and his apparatus get by. On gors the procession up Grand, Now they stop a bit; something is out of order, and away goes Capt. Mort Fairchild. to earry an order. “All right. General,” and “move on again.’? “Forward!” is the reply. The windows, and doors, and stoop, are crowded with girls— democratic girle— nore of your upper crust fancy coucerns, but girls with hearts and souls, and heaith, fit to make good wives and mothers to honest deserving men, Lewis street in reached. Still cheered ; and now we are in the cld llth. Here are people. The Drammond is going it likea thourand of brick up Houstoa. Look at the women snd girls retting off fire-works. Now we are in the Bowery. “What the devil ails that Dram- mond?” “It ‘aintouty t rallies ’? ‘Now it’s agoing, going—bell, it's going out.”? “I knew {t would when get among the upper ten.” “Damn them wht they've done it.” The Drummond is out; head of the procestion moves actos Broadway, Ninth street, all hope from Professor Grant is amp ; “oarry the you rushed '? i oo LS an end, and his omnibus takes its departare, sorrow- fully, down Broadway, The procession i# moving among the merchant palaces in the Fifteenth ward. No cheers, nu welcome; but the head of the procession is cheered by the ringing shouts that come from the rear, ‘ Never mind, boys,” shouts « stentorian voice; “the democracy can travel anywhere? “The whigs love karkners rath General Jackson said.” when to go out ”” shone first rate when it 100! A Bt out cm purpose when it got on thie side of y, among the whign? “ Good boy.’ the head comes down to the west Park gate shout the Ewpires. F “ Bloeked up.’ “Go around the Astor, ther and around the Astor. down Barclay, through Chagoh, a) Vesey, to Park Rew and old Temmeay. The GM. halts the crowds move on home—up go the rockets— the bar room is fille ; and while the tired groups. are dscuseing the incidents of the procession, we drop our penell and go to bed, perfectly satisfied that the real ‘ammawy democracy are hard to beat, either in real un or real fight. City Po At a meeting, held on the evening of the Ist Novem- ber, 1848. at No. 432 Fourt purpoee of quentioning the right of the Corporation of ‘rinity Cbureh, to hold 1 in their hands, claimed by them awtherr: ng their exeuses for committing the high banded wrongs a acts of which they have been guilty, Mr. Wm. G, ‘was appointed chairman. and Mr. Thomas C. x secretary, when the following prambles and resolutions were offered and unanimously adopted. Whe , There isno power more dangerous to the interesta of than corporations amassing avast smount of wealth, it to premote their own inter 3 mar Whereas, Trivity Chnreh is «uch an i of ite “ political weight as requiring oo and Whereas, Trinity Church hea been regularly chartered on mien? eranl, Eos ao bop —— in 1705; said grant ving been aigne erate ving teed tigned by the allege ra, nor the onal of ae Trinity mense wenith by rae that the preten ed Mce-copy’” when called upon, always produced me i causing tors, and others, to believe original correct in form and fact ; and me ee ‘a4 Whereas, Trinity Church illegally holds of millions the people of the Stato, and whieh, i 15 excheated to the State, would pay off the State aelieve people from taxation, and increase the eommon fund: and ens, Trinity Church, , denied the anthority of the Leisiatvre to ca:l cn them for an account of ite stewardship; and A to thelr own report, made under protert ’ a te the eva feited their charter, by having = Resol Hetty vet Trinity Chureb petit jesolved, it we will meet Trinity Chureh in th field the bas so long cecnpred, and Bake s teialof” right po itey might: Hecolved, That Hamilton Fish, having been addressed on tho subject, has refused to notice our communication, and is, there- fore, notentitied to our aupport,and A red. ‘That as the Hun RB: Walworth hee teow addresesd and has disclaim anytoing to do so, therefore. nct entitled to our Seppe apd ‘a8 the principles of Gon. John a, Dix, and the tes of the free soil party, coiacide with out own, we vse all benorable thee with it, be Resoived, 1 other candi Revolved, That there preambles and resolutions be the city papers: and all papers tbrougt out ti fate, favorasie to the eau, be requested to give them an ingcrtion, and eall atven- jon to them, Upon motion, the meeting then adjourned. ‘WM. G. BUTLER, President. Tnos. C. Munrny, Seeretary. Police Intelligence. Charge of Abduction—A complaint was made yee- terday before Justice Lothrop, under the new lew for the punishment of seduction, by » very good looking young girl abcut 17 years of age. by the name of Eli- zabeth Stewart, residing at No, 26 Trinity Place. She ret forth in her affidavit that about the 26th of tember last, one Charles Lawson paid bie addresses her, and after come little courtship he suceveded in the seduction of her virtue, under the promise and agree- ment to marry her. but instead of doing #0 he left and atandoned her. The statement of this poor girl was corroborated by Agnes Goodbull, who frequently heard the accured say that he was engaged to be married to Elizabeth, and that he bad on several oceasions had iieit intercourse with her, M3 facts ret forth, coming within the meaning of the new lew, the ma- jseued his warrant for the arrest of Lawson, ed the rame in the hands of oMeer Leland, who proceeded at once on board of the ship lows, lying in the stream, bound for California. ry accused is one of the officers. On oMcer making the arrest, the mate of the ship retused to allow the a Ee of said ship that uthority of this city, Business at the at the ourt, committed for the deliberation of be Grand Jury of the Court of Sessionr, which is impannelled to-day, 51 cares of grand Jarcenies, and about three times that amount of petit } jes large number of felonies don’t show that eri quite the contr Monzyep Pavrer. Y of the 3d ist. says that as the Police Magistrate and the Overeeers of the Poor were proceeding home- wards on the evening of the Ist inst, they were ac- or sted by a mirerable looking son of the Emerald Isle, who begged a fem cents to enable bim to get lodgings, a: otherwise he musiliein the streets. A! hyd ing him, they gave bim the charity solicited, over- seer re questi jim to call at his office in the morning. He did s0, begged further aid. as he desized to go d represented self wholly withoat means, 8, the Overseer, questioned bim somewhat and cuspecting wil was rot right, had him ox- hen ta 06 8 bing was found imalde of his Eroee sum of thi mi eighty cents! After de- his exchequer cost of hie night's acd the search, be w: issed Injunction to leave ‘motion; and so the day wore away The expeste: o'clock arrived. Tam grand rendezvous. ‘The aid obeyed. Such t one of which a pauper was searched at the poor house, and $9,000 found upon him,