The herald., 1837-03-31

dcberatnp on the state of their currency, and the
caascs Of the present crisisin commerce. Among ne
objects for which they called together, one is
full examination Of the )int- bank system, ana
It's influence and effect on commerce and trade.
The commercial action of that wonderful island -
now the principal element ofits exstence-ofi It's ch'
racter-of its prosperity-ofits power In 1910, aAu
again in 1925 crises in commercial afars took pace'
and on each occasion the Parliament asseIhoieo "
afford what relief il could by wlse Judcious anu
prompt legislation. 1t is one OF me pfiliiah ua's -
the British government, monarcblcai thsush y pf'
that under every adninistraton-under every Fes1-
rne-under every party-commerce ana 'raue are us
cussed On their own mcrits-en The Ilost scehunc
prneiples-and as promptly decided when he evils
and the remedies are equally apparent.
In every commercial crisis such has been the lnva-
,;able conduct of the British Parliament and the Brl-
tish Government Are We, their ehldren-thelr de-
scendants-to discard good and superior saga
city from our commercial affairs and permit our legs
latien 10 be governed entirely by political folly or ia
natcisml We trust and hope that such will not be
practised.
There never did exist time when il was so import
ant TO call Congress together as at this moment
We are in the midst of commercial war with our
great Ival the ocean, and our government IS su-
pine and inactive. The enemy is al the gates and we
are asleep. crisis more and more terrible
never was seen in the United States than the present
will be- if legislation do Not instantly move in refer
ence 10 the surplus and our existing CONNER
cal laws. During year and half last past this
crisis has been coming on-gradually and slowly at
timesrranon by leaps and bounds and maddening I'M
pulses
The commercial relations Of this country have be-
came. d5rinp the past tweniy years, highly artificial
md sooFnplex as much so perhaps as they in
ENGLAND, The least arrangement Of the machine
will throw the whole machinery out of motion,
dash il 10 the ground in pieces In this complex ma
chine our government is an important part, in conse
nuence of the influence exercised by the vast surplus
revenue on the carrency and exchanges-and the
stant operation of the tariff distribution and deposite
laws on the general laws oftrade. The British gov
eminent is in some measure in the power It's COM
neree, in consequence of It's great public debt The
American government by lis surplus, stands IN d.
rectIy opposite attitude-it possesses overwhelming
powes over ts trade and commercial action
surplus Of fifty millions al the power and disposition
Of government is more powerful clement for good
or for evil, than bank of 200 millions of active cap
tai all paid in and subject TO the general laws OF com
nerce The surplus revenue, like the terrible reserve
of Napoleon hides itself beneath the distant noun
tain, and only into the field 10 decide the
nct al the close of the day. when the regulars are
tired and worn 10 death.
The terrible revusion which has rpened 10 crisis
during the last year. is only as yet in the midst of its
bliqhtine process. The brokers have faed-ths land
specuidtors have iaed-the spirit of destruction is
now ,ranlpling down the importing and exporting
mcrchants.< the auctoneers, and all those engaged
L. L. =. "a ,l,o
revulson viii reach the banks-,hen the mechanic
then the fasInar-then all classes and ranks through
out the country. II has swept over, with the bcsem
of desolaton, large portions Of New York, Philade-
pha, Mobile and New Orleans. This is only be-
ginning. The commercial laws of Congress and the
notion OF the executive still exist-laws which hourly
daily, weekly, monthly yearly, running counter
to the laws OF trade with equal vruence and ferocty
Like two angry oceans meeting together on the
same pebbly shQre, they dash they foam, they fret,
they furne they sweep 10 death and destruction all
the fra barks that come within the verge of their
surgng pillows. The country has been in excitement
and agtaon in consequence OF these contrary, oppo-
sung, overwhelming currents during space of three
years This opposition between the laws Of Congress
and the laws of commerce, originally generated by
partvr spirit o;pdciire, roiert party spirit is the
mother of the present crisis and until these laws are
made 10 run iSunison, will have a constant recur-
renee OF such terrible scenes in every relation Of life
In monarchy such folly and ncapacity in govern
ment would have caused revoutlon-a revolution of
bleed ;-here it has bean produced by the folly Of
party, spirit umong the people-of course we must
shut our mouths, and take the licking we richly
deserye ~ -..'~ eve
IL ,s now time for action IL is now time for the
President 10 give evidence Of ms existence Is there
such thing at Washington as chief magistrate =
Old reoosds, co~sred>~th the moths Of SIX months,
tell us thar one Martin Van Buren, raised 10 the
Presidency ofithis hoaxed and humbugged naiion and
now resides al Washington Is il truel Is he alivel
or has he been tdklpe d box Of the real Rrandreth
pdIs1 Is he consigned TO his long long homef If Mar
tin Van Burep, Presdehtof The United States is still
IN this world, Ie him rfoye that fact by issuing his
proclamat on for the assembling Of Congress to still
the terrible cenyulsions which is rising 10 head
throughout ihs iand@' Wake up-wake up-wake
upl
AryAIR'or Hosoa-we understand that an affair
Of honor comes of at Hotoken few days, between
a distinguished ac,orSand n gentleman amateur,
consequence Of come assrlel growing out of some
thlnq we can't find out. We are neural, till we as
certain who falls "a eoIebat, Both the actor and the