The Press. — London, England, 1856-11-22 00:00:00

'77 - '" ° -''..r • * 1 • -.-- .. -. 7: 7 -.,... 577"7 4P ' - . 'T . ' . '"' ...-. S . T . V 4 li'Cr ' I' < ° - x. • . ' ".. No. 186.—VoL.IV. LONDON, SATURDAY, NOVEMBER 22, 1856. STAMPED ....SIXPENCE. UNSTAMPED-FIVEPENCE. i4e Vrtss. LONDON, SATURDAY, NOVEMBER 22, 185 G. THE election of Mr. BUCHANAN as President of the United States has a European aspect. It affects the politics of England in particular, and should have weight with the minds of men who look beyond the pressing needs of the hour. Our readers will recollect that since the Pre sidential contest commenced in earnest we have avoided direct allusion to it. The choice of a President rested with the American Union alone. Not that we ever had any doubt of the result. Five months ago (vide PRESS, June 21) we wrote that from Mr. BUCHANAN'S reputa tion, and from the strength of his party, there could be little doubt that he would be suc cessful; and we said that the Democratic Convention had in this instance shown much practical sagacity im selecting their boldest and weightiest statesman to give effect to their principles. Those principles, apart from all domestic questions, were the aggrandisement of the American Union, the extension of its territory, and the increase of its external forces. Mr. BUCHANAN has really been elected, not because he was supposed to be more . favorable to shivery than his opponent, but because his tone on foreign politics was more decided, and because he took a more national attitude. Mr. BUCHANAN as the Pre sident of the United States is less the repre sentative of either the slavery or anti-slavery party in the States than he is the representa tive of the American Union as opposed to all foreign Powers. The slavery question is not materially affected by this election ; or, so far as it is affected at all, the election has only shown the insecurity of the foundation on which the Union rests. The difference between the two parties is irreconcileable ; it is increasing in intensity ; it admits of no compromise ; and sooner or later it must come to that point when mutual repugnance will dictate terms of separation, or when hate will bring forth open war to determine the supremacy. National sentiment has for the time prevented this rupture. Generally the Free States of the North have none one way, and the Slave States of the South have gone the ether. The balance trembled ; and it was the attitude, as respected foreign States, of the two candidates for the Presidency which decided the contest. Mr. BUCHANAN was for the aggrandisement of the American Union. With that principle all lus conduct is connected. On that principle Vie Democratic Convention constructed its platform. FREMONT was favorable to a more pacific policy, and a less decided attitude. The sentiment of nationality prevailed in some States—as in Pennsylvania, where, on points of domestic policy, parties were about equally divided. Mr. BUCHANAN becomes President of the States for the next four years, not pledged to the extension or supremacy of slavery, but pledged to the growth of the power and in• fluence of the American Union. This is the tine significance of his election. We see no reason to alter, in any respect, the views which we put forth five months back. The people, or the majority of the people, of the United States have decided on a policy. They desire the widening of their internal limits, and of their external greatness. Their power consists in their confederacy. and as that confederacy extends, they hope to see their power augmented in like proportion. It is this hope which has triumphed on the 4th of November. The slavery question has not been settled—it has only been postponed ; and it is from its very nature of such a kind, that if no external events occur to give an un looked for stimulus to national feeling, and to band all statesmen together, whatever their differences on questions of domestic policy, it must tend to wrench the Union asunder. The Slave Sates, with the single exception of Maryland (8), which voted for FILLMORE, have gone for BUCHANAN, giving him 112 votes, and for FREMONT not one. The Free States, with the exception of Illinois (4), Indiana (13), New Jersey (7), and Pennsylvania (27), have gone foc FREMONT. He obtains in the Free States 125 votes against the 51 given to his opponent. Those 51 decide the contest. In New York, the most populous, intelligent, and enter prising State of the Union, FREMONT gains the 35 electoral votes. The gross popular vote would seem to give him a majority of about 100,000 over his successful competitor, Mr. BUCHANAN, so difficult is it found, even in the American Union, to exactly apportion electoral influence to numerical strength. The numbers are important, as showing the strength of the two parties which divide the Union, and their• definiteness of purpose. For the first time since the declaration of inde pendence, we see a complete separation be tween the North and the South. The antago nism is strengthened by every influence which most strongly sways civilised communities — by moral conviction, by social sentiment and habits, and by material interests. This an tagonism, as it has been growing for years past, must continue to increase. The power of the Slave States is predominating over the power of the Free States. It is impossible longer to preserve a balance between them. With the inevitable strife which this ques tion must continue to occasion we have little concern. Such contests of principle are, in an especial manner, the peril of new States. America must settle the difficulty as she best can. Her statesmen will, doubtless, endea vour to postpone dangers which they cannot overcome; and the most obvious way of divert ing attention from matters of domestic policy —which must become more embarrassing the more they are discussed—is to appeal to the nationality of the people, and to excite their enthusiasm in favour• of schemes of aggran disement. Thus far Mr. BUCFIANAN has found this plan of policy answer. It has raised him to the Presidentship. lie is pledge:l to pursue it by the general tenor of his public life, by his relations with the Administration of President PIERCE, and by his adherence to the platform of the whole Democratic party. This policy may be carried out without hostility to England, or to any other European Power. It is not our part to regard with jealousy the growth of the Union on the American continent. There is room for its expansion without injury to the legitimate rights and properties of other Powers. We must acknowledge the force of that law by which a superior race extends its limits at the expense of an inferior race. But it is possible that the Government of the United States, under the Presidency of Mr. BUCHANAN, may desire to proceed further. The district which commands the passage between the two oceans is yet in dispute. The neutrality of that territory was guaranteed by the Clayton-Bulwer Treaty, but we have no security, considering the points in dispute between the two Governments, and the un settled state of the region, that the Adminis tration of Mr. BUCHANAN may not attempt to incorporate the isthmus with the territory of the United States. On this question, and indeed on all ques- tions of policy touching our relations with the the United States, the interests of France are identical with our interests. France is pledged, like this country, never to allow the territory of the isthmus to fall under the dominion of the United States, or of any other Power. It is to be kept open as a great highway of all nations for the commerce of the world. Should the Government of the United States seek, on any pretence whatever, to abridge the rights or seize the possessions of European nations in America, be they main land or island, a firm resistance must un doubtedly be made. The Monroe doctrine to which Mr. BUCHANAN iS committed, admits of a placable and satisfactory interpretation ; but it admits of one, also, of a directly contrail nature. It is not the policy or this courtry to manifest distrust of Mr. BUCHANAN'S Govern ment; but it is our policy to raise insuperable barriers against that Government assuming an aggressive character. While our alliance subsists with France the statesmen of the Union must well know that no loophole is allowed them for encroaching on European rights. This alliance is as sure a guarantee against the cravings of ambition in the West as it has proved in the East. The election of Mr. BUCHANAN has supplied one more powerful reason why this alliance should be maintained, and will determine all honest politicians to discountenance those insidious efforts which are being made in both countries to undermine it. PUBLIC MONIES.—THE EXCHEQUER. WE stated when we last noticed the subject that the first improvement by legislation in the old system of the Exchequer was made so recently as the year 1834, by the Act 4 William IV., ch. 15, and that the improvement then made is attributable principally to the Report of the Commission of 1831, of which Lord JOHN RUSSELL, Sir JAMES GRAHAM, Sir FRANCIS BARING, and Mr. ELLICE arc the surviving members. In dealing with questions of his torical improvements or reforms, we are un biassed by party considerations, and we rejoice to bear cur testimon, tinguished men. In bound to add that knowledge the assis the proceedings of a pointed by the Duke The views of the - regards the functions clearly set forth in this ny in favour of those dis- c the samew 'VEIN - .., - ~ the Comte- s ..,, 46 z... ?, stance thego‘ .frtm )..., ,.7 , former „ iaiso •..F.L... , : . 6 3 :e of WEL ~fiq u i .‘ < si . j • 'LW ~._ Commissi.....qo.4 y'' iir. ns of the . 4 .• .4 • ... 7, , his Report**-°?„ ,t tk ao) r t ,!4 ~..., A'N - isis e v AI