The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-06-17

I
be elected President He profssses 10 be oHos4d
TO any exercise Of the veto over the acts Of Con-
gress, unless such acts as palpably opposed to
the written letter Of the constitution Legislation,
therefore, of any kind, which Is not directly in the
teeth OF the constitution, left entirely to the &C
ton of Congress. General Taylor also proclaims
that his administration will not belong TO any par
ty, nor be under the domination of any clique of
politicians. The Offices in his gift Will conse-
quenty be given to individuals Of any party, pro-
vided they are honest, competent and capable-
thus realising the principles of Washington and
Jefferson. There will be no removals from office
Tor mere opinion, unless incompetency or disho-
nesty compel such an act In reference to the
future prospects of Europe, and the present stua-
ton OF the French Republic, General Taylor will
probably pursue the cautious and Independent poll
cy of Washington and Jefferson, and keep aloof
from all entangling alliances with European pow
ers on mere matters of opinion.
These views and principles appear to constitute
the future views and measures of the new party
now organising for the elevation of Cen Taylor to
the Presidency. They are the views and princi-
pies which are developed in his own correspon-
dence. Nothing is said (nor do we think it neces-
sary that it should be) in reference to slave terri
tory or to the free States acquired by the treaty
with Mexico. All these questions are left where
they ought to be-to the action of Congress.
Now what, on the other hand, are the principles
of General Cass? These we may gather both as
they have been developed by himself, in the posi-
ton which he occupies, and as they have been
promulgated by the convention which nominated
HIM, as they have also been put forth by many of
his confidential friends, acquainted with his views
on certain contingencies. These views embrace
the following measures The independent treasu-
ry, as 1t now exists gold and silver currency
the present tariff no appropriations of public money
tor internal improvements; no Wilmot proviso for
the new territories; the bestowal of public offices
upon the partisans of the new party. These are
the well known views and principles of those who
support General Cass. But it appears from more
recent statements, Judging from Developments
made by leading men and various journals, we may
probably be able to say that this new party will 90
for annexation on agrand scale-the annexation of
Mexico, Cuba, and of Canada; and probably
for the rescue and liberation of Mitchell,
the Irish patriot, now in Bermuda; also,
the independence of the West Indies from
European domination, and we may also include
a determination with the French republicans
against the monarchs of Europe. Such policy
as some of these views and measures would imply,
might lead to war between this country and
other foreign powersto the necessity of contract
ing more debts and making fresh loans-to an
increase of public taxes; and, perhaps, to all the
glory and honor of another war with Great Britain,
on the Atlantic ocean,
Such, according to the fairest investigations,
appear to be the principles and tendencies of the
two new partes-that of General Taylor and that
OF General Cass-as they are now in the pro-
cess OF formation and organization throughout
the Union, on the ruins Of the old wing and de-
mocratic parties General Cass, at the head of
one branch of this revolution, is strong man,
an accomplished, talented and popular candi-
date No one can deny this, except the
mere blind partizans of particular candidates.
He Is a formidable candidate, and is rendered
more SO from his sincere and generous devotion
to those principles of liberty and right, which are
now agitating the whole world. General Taylor.
does not need word from US. His principles ex-
hibit the sublime spectacle Of a great warrior,
with peaceful tendency. His views, in this re-
spect, form singular contrast with his brilliant
achievements on the Rio Grande, and In other
places, during long career in the service of his
country a soldier. He, therefore, is the embodi-
ment Of the peace principle, and goes for no war,
no entangling alliances but all is to be harmony,
happiness and prosperity to the whole republic.
There are other party movements, but they are
not entitled to notice, worthy to be named. The
candidates they have put forth only deserve to be
kicked into oblivion, and left there to their own
meditations. The people of the United States, be.
tween now and next November, must make up
| their minds, and choose between General Cass, on
the one hand, and General Taylor on the other
! The New LoAN.-The bids for the loan of six.
teen millions of dollars, authorised by recent act
OF Congress, to enable Uncle Sam to carry out his
views in regard to Mexico will be opened to-day
at the CAPITOL IN the presence of the several bid
ders who have rendered proposals for it, These
bids will show the estimation in which the old
gentleman's credit is held here at home, which we
think will be found pretty tolerable, considering
the distracted condition which the world is in.
They will also show in Wall street, dollar-and-
cent point of view, the relative value of monarchi-
cal and republican governments and we should
not be surprised to the latter quoted at some.
thing like eighteen per cent more than the former
to see that our institutions will rank some one
or one-and-a-half per cent above par; while Eng
lish Institutions by the same criterion, will rank
sixteen or seventeen per cent below par-consols,
we believe, being quoted at eighty-four, at the
sailing of the last steamer.
| Now we do not know of better method of
testing the value Of political institutions than this.
Take anything into Wall street-whether it be
water lots in the moon-wild cat bank stock State
stock or government stock, of any description
and the sharpers there will fix appropriate value
on it. 1t must be taken into consideration, how
ever, that English consols may, in twenty
four hours, descend as low as twenty, next
dayto ten, and perhaps the day after that, they
would be worthless. Distant symptoms of ge-
neral European war drive them down one or two