The Express.
London, England, 1848-08-16 00:00:00

the people, as expressed through their representatives in
Congress, ought to be respected and carried out by the exe-
cutive. Fourth, the Mexican war. I sincerely rejoice
at the prospect of peace. My life has been de-
voted to army, yet I look upon war at all tioles and
under all circo."-tances as a national calamity to be
ed void if - with the national honour. The prin-

aciples ofdocourmgpoavteirbnlem;nt, as well as its true policy, are op-
posedto the subjugation of other nations and the disme
rn
sent of other countries by conquest. In the language of
the great Washington, " Why should we quit our own to
stand on foreign ground ?" In the Mexican war our Ha.
tional honour has mien vindicated ; and in dictatir.g terms
of peace, we may writ afford to be forbearing and stagnant
mous to a fallen toe. These arc my opinions on the subjects
referred to by you, and any reports or publications, written
or verbal, trout any source, eliff,ring In any esaeotial parties-
lar from what is here written, are unauthorised and untrue.
I do not know that I shall &grin write upon the suhjt ct
national prlitica. I shall engage in no schemes, so email
nati• ns, no intrigues. If the American people have not eon-
flelence in me, they ou2ht not to give me their suffrages. If
they do not, you know me well enough to believe me, when
I declare I shall be content. I am too old a soldier to mur-
mur 14(11i1114 such high authority.
The Oregon Bill was reported, with amendments,
in the House of Representatives ott the Ist of August.
The most important amendment was the striking out
of the veto power over territoriallegislature acts], pro-
posed to be vested in the government of Oregon.
The brief political aid commercial summary of the
New York Cuurrier and Enquirer for Europe is as
follows:

Our only news of political interest, since the last ,1
steamer, is the statement now receivtd in an authentic
shepe of a battle, or rather succession of skirmishes
near Guanajuato in Mexico, between Bustamente com-
manding the govirament forces, and Paredes with
Padre Jaraute at the head of the revolters. The vic-
tory i 4 claimed for both sides, but neither appears to
have done much in the way of fighting.
The dates from the city of Mexico are to the 14th
ult., where the government of llerrera seemed to be
pursuing its course without interruption or disturb-
ance.
The American troops have now all left Mexico, and
that country is again delivered up to its own laws and
rulers. Among other effects of this is the re-euriet-
meat of the old Mexican tariff.

In congress the attempt to pass a sort of com-
promise hill for the government of the new
territories has been defeated—the House of Repre-
sentatives refusing even to entertain or discuss the
bill which had passed the Senate, and of which the
tendency was to permit the establishment of slavery
in New Mexico and Culiforni•t. It seems pretty well
settled now that no bill looking to suit a result can
obtain the asseat of the House of Representatives.
The state of our commercial and money market is
not improved since the advices by the preceding
steamer. _ .

The news by the Europa, with dates to the 15th
ult., produced little or no alteration in our markets,
except for cotton, which has advanced somewhat, as
is stated below.

NEW YORK, AUG. 1.
Money continues to be in great demand here, al-
though business is very dui. The stocks of the
United States, and of the States, feel the t Elect of this
pressure. Treasu.y Notts, bearing 6 per cent. interest,
were down to-day at 1021 ; and United Stan a Sizes,
at 7 per cent., at 103.
Corros.—The news per United State, and .Ea-
roint has caused an advance of about half a cent
per pound in this market, and we must now
quote middlings at 6i to 71 cents for all growths,
and fair 71 to 71 for Uplands, and ri to SI for Orleans. '
Stock in this port between 33,000 and 60,003 bales.
Salem of the last few days average about 1,200 bales
per day, chiefly for England. Not much offering for
sale. Freight to Liverpool, :; to 5-32 of a penny
per lb. The prospect of an abundant crop con-
Itinues about as good as ever. Some complaints are
ade of rains here and there, but they seem very
local, though there liar. been more rain in the New
Orleans districts than in the Atlantic States. The
maximum effect probably is merely retarding the ap-
pearance of the first hundred bales of new cotton some
four or five days.
The Hibernia has brought 5 0001. in specie, on
freights.

THE RETALIATORY POSTAL LlW.—We under-
stand that the United States mail agent seized, on
board the steam-ship, Niagara, yesterday, quite a
number of letters, which had been given to passengers
and others, in order to avoid the retaliatory postage
of 24 cents, now levied by our government.—liostsn
Trarellcr.