The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-02-23
The W srehOuse n epOrt.


We give on the first page OF this days Herald,
the report of the Secretary Of the Treasury the
Warehous,ng System, which was transmitted to
Congress yesterday. 1t will be reed with interest
by all commercial men.
The Accession OF the Whsxs-WMI they
Retain Powers
With the inauguration of General Taylor, tho
President elect, the fifth of March next, the
wing party will reach power and office In this
country, for the first time in period of nearly
half a century. They are about to try the expert
ment whether or not they can carry on the 60.
vernment of this great country successfully, and
whether, at the end Of the term for which they
have been elected, they can point to the good they
have done, invite scrutiny of their course,
prove themselves to have faithfully discharged
their dutles and chow themselves worthy OF re-
election. The history Of the U alted States for the
next four years, will be interesting to the politi-
clan, the state sman, aud the people generally
The questions which were in Issue between the
two old parties at the commencement of the
present century, have long since been settled and
disposed of. Within the last twenty-five years,
however, certain other ues and questions have
been In controversy between them, and have been
waged with more or less intensity. Among them
may be mentioned the tariff question, the estab-
Iishment OF national bank, annexation of terri.
tory, internal improvements, general bankrupt
law, DC These matters have been passed upon
by the people at various times but notwithstand.
ing that, we think It likely that a portion of the
wing party, in Congress and out Of 1t, will attempt
to revive some Of them under the new admins.
fration. 1t would be matter of curiosity as well
as interest, to let them try to carry them
into effect. Their principles in regard to the
tariff and the commercial condition of the
country. are of some importance. So are
their views in regard to general and
national bankrupt law. Two such enactments
have been passed; and after fulfilling the ends
which they were framed to meet, they were an
nulled Those measures were passed for the con-
venence OF certain class of men; but if there were
a permanent national bankrupt law, we think 1t
would be very useful to the country In general
Any parry that desires to maintain power In this
country, must be aciuated more or less by the
spirit Of progress which ls so rife in this age and
generation. This has, in great measure, been the
cause OF the success of The democratic party. Tha
party progressed, in certain directions, and main
tanned itself successfully against all opposition
Thus, our foreign affairs, progress was shown
IN the nexanon of foreign territory, which has
increased the power and wealth OF the couatry
In domestic matters, it has always acted on what
they called the economical system-has been IN
favor of q specie system of currency, and the en-.
courage ment OF tree trade by lew tariffs. This Is
sketch OF what the policy of the democratic par
ty has been In times past; and the question is
would It not be advisable to ascertain whether the
principles always advocated by the wings are
worth anything IN practice 1t would be an ex-
pertinent, TO be sure; but is worth trylng-fore even
human nature is only grand experiment
The wings can make progress in their legislation
If they choose to do SO. The acquisition of the
territories of New Mexico and California, includ.
ing the splendid Lay Of San Francisco, which 10
destined to become the emporium OF commerce on
the Western side of this continent, as well az the
discoveries OF gold which have recently
been made there, render it a matter of the highest
importance to construct some mode of speedy con-
nect,on between the two extremes of our country
The feasibility and practlbillty of constructing a
abroad across the continent, on our own SOIL has |
'een plainly illustrated; and the advantages which
t would confer on he nation are obvious Now,
1 the wings were to endorse this as one OF their
measures, and commence the great work, the
erm progressive might be, with propriety, applied
% them. telegraphIc communication between
he two points might alse be constructed. At all
events, 1t Is clear that the wing party have control
over their own fate, and 1t rests with themselves
% solve the problem whether they will MAINTAIN
heir sscendancy. II they understand the temper
Of the people OF the United States and the wants
and interests OF the country, they can retain the
control OF the government as long as they please,
IA the democratic party have done for so many
years. We shall see what their fate will be. II,
however, they set themselves in opposition to the
sPint OF progress, their speedy downfall Is certain
II they have tact and management, they will direct
1t into proper channels for the interests of the
country but If they attempt to stem it. thew NAV
as well give up the ghost In advance-for proore..
- the order Of the day.
TIE IsTHMUs OF PArAMA.-Several Of On, oo-
temporaries, jealous OF the success which has AT.
tended our exertions in obtaining intelligence
from the Isthmus Of Panama, have endeayored to
throw dscredt on our correspondence from that
quarter, by denying the statements which it con-
tanned. Tits applies particularly to the letters |
written by Mr.. Stephen II. Branch, Of this city, |
who Is en- route to the gold region of California
In a recent letter, Mr.. Branch stated that the au-