The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-04-17

spirit that has created and preserves the "liberty
party" or the niger association Of white men.
Looking at the natives as a party that will be
governed by these principles In the approaching
election for delegates to the State Convention what
are the chances for the wings or locofocos3
Ii the wings pursue the same policy in the eec-
ton for delegates they did in the recent election
for this city, the result will be TO give the whole OF
the delegation from this city to the locofocos. But
il the wings should allow the native party to make
the nominations for delegates, and concur in
those nominations, the other alternative will pro-
badly take place, and the locoocos will be defeated
"horse, foot, and Dragons" II such a union as
this had been effected in the municipal election, it
would have resulted In the defeat of the locofoco
candidates, and the success Of the union of wings
and natives ticket in their Mayor, and at least ten
of the wards
Such being the distinct position OF the political
forces and elements existing in this city, rela-
tive to the approaching election, it may be asked
what course will the natives and wings pursue "a
this matter? AS regards the natives, there is no
doubt that they will adhere to their own nomina-
tons, and support their own men. Their position
Is as firm as the rocks on which Manhattan Island
rePoses. They have the same number Of voters as
In lS4s, and they can probably retain that number
for years to come, with the exception Of those who
leave the city, or those who die and 60 to heaven,
or some other place. These men are animated by
species of political and religious enthusiasm,
either magnetism or something else, which cares
nothing Tor success, provided they have mode Of
expressing tangibly their opinions to the world and
the belief, which they repose time, of their uti
mate success. II there is to be danger apprehended
from locofoco organic legislation, that danger can
only be avoided by defeating the locofoco deega-
ton in this city, and that defeat can only be effect
ed by the wings and natives uniting on the same
nominees; and that union can only be accomplished
by allowing the natives to nominate the men, and
then for the wings to concur in them and support
them.
Think Of this ye blockhead politicians. This is
the age of magnetism.
The PANIC IN THE MONEY MARxEr.-The state
OF matters at Washington at present, makes tho
brokers OF Wall street start. Stocks fell again yes
terday, particularly United States, and they will
continue to fall, the prospect brightens for the
passage OF the new treasury law by the Senate Of
the United States. The banks, too, are curtailing
their discounts and circulation and the spectators
are sadly incommoded in consequence thereof
There is great commoton in Wall street and in all
the avenues Of imitation and speculate on. There is
no doubt the alarm is exaggerated but if this
alarm on the action of Congress can break the
banking system up, the result will be beneficial to
all sober men throughout the country.
The banking system, as it Is practised in this
community, is anything but good or beneficial
The banking system, when conducted in pro per
manner, is beneficial to commerce and highly use
iul, but it has not been conducted for many years
past with benefit to any one but spectators. This
does not extend to all banks. There are some good
banks, well conducted; but the way ia which
others are conducted has led the community into
temptation and extravaganza.
The evils of the banking system are innumera-
BILE; but there are two classes of them that are
glaring. One OF these is the facilities which bank
inaons give to spectators in all sorts of wild en-
terprises, leading men of capital astray and Tempt
Ing them to engage in speculations Another of the
evils is the encouragement of extravaganza. Bank
directors and officers, from the facility they have of
getting discounts, allow their families and de.
pendents to launch into extravagances of every
Kind. One-haf OF the expensive balls, soir<es,
and extavagant dresses Of the fashionable circles,
spring from bank facilities and bank inflatione.
These men lead the other portions Of the commu-
nifty, and the consequence Is, that general demo-
ralization of society soon takes place.
These two classes of evils have only to be named,
to be recognized In this city in the social and fnan-
cial circles for twenty years past Look at the ex-
travagant mansions built in the upper part of Broad
way, and the expensive establishments that have
been built and purchased by bank facilities, and the
expensive parties that given in that region All
OF these spring from bank facilities, and have in
volved the projectors in bankruptcy, which has
afterwards deprived the owners Of them II a re.
form In the banking system can be effected by the
action Of the general government, it is much need
ed, and will be attended with good effects in this
city and throughout the country.
TIKI OCEAN STEAMERS FROM THIS PoRr.-We
understand that there will be a great contest in
Congress, relative to the proposition of the Post.
master General, to form contract with Mr. Mills
and his associates, for establishing line Of steamers
between this city and Havre and Bremen. Under
the law OF Congress, the Postmaster General was
authorized to establish general system Of ocean
steamers to Europe, South America, Mexico, and
other parts. Instead Of following the wish of CON-
gress and the law authorizing the establishment of
comprehensive system, the Postmaster General
narrowed down his action to the establishment of
three or four steamers between this port and Havre
instead OF combining different lines and establishing
general system. Here was the first error com.
mtted by the Postmaster General, an error inse.
parable from little and contracted mind. The
contest IN Congress will be between the isolated
proposition made to the POSTMASTER General, en-
bracing small line from this city, and the compre-
hensive system authorized by Congress. We have
no doubt the gentlemen in this city, who received
the contract, will do the best they can. We are