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

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
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pointed by the Duke
The views of the -

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clearly set forth in this

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