The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-11-16

received by the last steamer, relative to our war
with Mexico are TO be found on the outside of this
days Herald 1t appears from these, and other
extracts before given, that Mexico has, in English
estimation, sunk to almost the lowest point of ma
tional degradation.
The Finances OF the Government-The
New Loan.
IL must be n source of much satisfaction to
every good citizen, that the finances Of the GO
vernment are in very favorable condition, not
withstanding the efforts made by the opposition
press to destroy the credit Of the country and in
tmidate capitalists. II appears that the Secre-
tary of the Treasury received bids for amount
much larger than that required, which shows
that another loan, when authorized, will be
easily raised There is very little danger of the
public treasury becoming empty, and so long as
the public credit remains unimpaired, any
amount of money can be obtained.
IL has been the object OF the opposition party
press to prevent, il possible, the taking of this
loan, for the purpose of showing that the credit
of the government had been ruined by the de-
struction Of the protective tariff Had this loan
not been taken, there would have been a great
cry raised for repeal of the new tariff act,
and the adoption of another similar to that Of
1912. We shall now hear very little about
the government credit, and the opposition press
must hunt up some new point of attack. The
Treasury of the United States is the Alvarado of
the country, and appears to be impregnable
against the attacks of the enemy. Mr.. Walker
has, so far, been very successful in his financial
movements in spite Of untoward circumstances,
and we have more confidence IN his luck tact,
or whatever it may be called, than when he COM
menced his financial schemes,
There is no doubt but that the Secretary Of the
Treasury has a most magnificent idea of the re-
sources of this magnificent country, and looks
spon its credit as being superior to that of any
other government in existence In this he is
right, but too much faith may prove incum-
brance, when he places himself in the hands OF
the Pnilistines of Wall street. We have now
funds to meet any expenditure of the country, or
demand upon the treasury, for several months,
within which time trust the Mexican war
will be brought to close.
STATE DEBrs-THE PRoGRKss OF Honesty We
learn that great efforts Will be made in the legis
latures of the various delinquent States, which
are about convening, 10 place their financial at
fairs in such condition will enable them to
resume the payment of a portion OF the interest
accruing annually.
This is excellent, Indiana and Illinois have
done as much as can be expected al present. We
must wait until the public work. of these States,
which are rapidly progressing, completed,
before any thing more can be done in rela-
ton to the public debts. A beginning has
been made, and we have no fears of a relapse. -
Maryland will, in the course of another year, rank
among the solvent states. Herresources are am
pie, and although the spirit of reputation is
not quite extinct, within her limits, there is no
danger of its spreading it is confined to one
county, and appears even there not to be OF
very radical character. All eyes now turned
upon Michigan, as events have recently transpired
calculated to give the bondholders OF that State,
a ray of hope. The sale of the railroads of Mich
igan has reduced the public Indebtedness, and
improved the financial condition of the State to
a very great extent, and with very trifing rate
of taxation, every cent of the annual interest on
the remaining debt could be promptly and easily
paid.
The people Of the grain growing sections of the
country, are becoming rich very rapidly. Their
harvests for the past two years have been album
dant, and prices have been far above remunera-
ting points. The agricultural classes generally,
are in a very prosperous condition, and are better
able at this moment, to bear the burdens of taxa
ton, than they have been at any time, within the
past years The representatives of this class Of
our population should not hesitate to pass such
laws in relation to taxes and revenue the EXT
gences of the time require, and we will guarantee
that they will be cordially seconded by their
constituents in fulfilling their part of the arrange
ment. Down with reputation.
Our public men must look to the credit and cha
racter of the States they represent.
MOUNTED MEMOIR CALTPoRNIA.-In announcing
the departure for California of the last of Colonel
Stevenson's regiment, we cannot omit the oppor-
tunity of expressing our regret that the govern
ment has not as yet secured for that distant region
the services o. the fine regiment OF mounted men
sometime since organized in this city, and attach
ed TO the Sixth Brigade, N. Y. s. A.; particularly
as we conceive the terms which they have
offered themselves to the government, to be
highly advantageous to the country, and this kind
Of force is peculiarly adapted for service in Califor-
MIA. And as the Colonel and many OF the officers
are well known be the right ssrt of men for this
or. any other enterprise of difficulty or danger,
we sincerely hope that the government will take
the earliest opportunity Of procuring for the coun
try the services Of this regiment. With an army
OF Ave thousand such men rs this regiment 10
composed of, differed rs it is by men of talent
and military learning, the whole of California
would, IN the twinkling OF an .ye, be an American
State.
ANOTHER ATTACK ON ALvARApo.-If our tele-
graphic report in yesterdays paper is true it APP
pears that the American fleet in the Gulf has a
second time attempted to take Alvarado, and
failed. We do hope, for the honor of the navy
ri t1a al.
cal dispatches will give us a different version of