The New York herald., 1850-01-27

be the general purpose of President Taylor to keep
combustble materials, far possible, out OF the
sight and reach OF the extreme parties IN Congress
With reference to the Nicaragua business, like
wise, this commendabe temper is manifested.
Whatever may be thought OF the legal point which
has been raised respecting the alleged rights OF
Lord PalmeIston's friend. the Mosquito King-a
question which we do not feel concerned to discuss
there cannot be two opinions as TO the wise and
honest policy which, with every appearance OF
good faith, is indicated in the following paragraph
GA contract having been concluded With the State Of
Nicaragua. by company composed OF American csti
Eeps, for the purpose Of constructing chip canal
lsntic ard Pacific oceans, have directed the nego-
tiatop OF treaty with Nicaragua pledgng both GO
to protect these who shall IN and per.
feet the work. All other nations Invited BY the
Of Nicaragua to enter into the treaty stipu
lstions with her and the benefit TO be derived by each
from fuch an arrangement will Be the protection OF
this great inter oceanic come unoatlon against any
power which might seek to obstruct it, or to monopolis
win enjoy The right Of passage through the eanal on
pay men. Of the tolls. The werk, constructed
under these guarantee viii osooms BONO o. peace
the nations Of the earth. Should the great maritime
States Of Europe consent to this arrangement (snd
have reason to suppose that proportion fair and
honorable will be opposed by any the energies Of sher
people and ours will Co operate in promoting the sue
cess Of the enterprisen
This DIS no comment, beyond the simple ex-
preston OF an earnest hope that no difficulty will
arise, IN any quarter, TO the completion Of work
Ia which commerce, civilization and humanity are
so deeply interested.
The other topics of foreign policy touched upon
In the message do not call tor much remark. The
PRESIDENT announces the satisfactory adjustment OF
therecent diplomatic ttf with France; and "grave
and serious" difference with Portugal, on debtor
and creditor quesneD, is advered 10 IN terms which
will. II may be hoped, facilitate an early settlement.
1htfe is, perhaps, more frankness than decorum
IN the broadly hiDteo regret that the Austrian em-
hac n 1tar and fllA
announcement that an agent had been expressly
commissioned by the United States government to
take The very hrst opportunity OF g welcoming In
dependent Hungary into the family Of natons,"
scarcely seems calculated 10 promote the mantle
nance Of "our accustomed amlcable relations"
with the legitimate sovereign OF that country.
With this exception, however, we are bound to say
that The language OF President Taylors message is
that of n ruler who understands and respects the
obligations OF international law and the proprletes
ot International usage With reference both to
the attempted equlIm Iment, at New crk, OF a Ger
man-t mpiIe war steemer Tor service az iInst Dem
maik, and 10 the nefarious PROJECT Of Cuban ex-
psGiuoD, he talks of "txecutIng the law Of the
United States, and mantsiDing Inc faith Of trea-
tier" ia style which is highly satisfactory: Even
meIe phrases are hot quite valueess, when they IN
clca't the tuin OF mans mlnc, and the habltnal
btnt OF his character; and we own that il gives
real pleasure TO see United States Presden, harp
ing IN such topics as law OF nations" honor of
Amenca,'' "sacred obligations of The consttu.
uoD," and "pohcy OF Washington"
The new Presidents known opinions as a wing
candidate wlll Of course have prepared our readers
for a certain amo1nt OF protectonism IN his first
message 10 Congress The most notable feature
IN this portion cf The document II, perhaps, its
wei guarded and carefully. balanced moderation.
Cody enough. he puis 'augmeniaion OF the
revenue" IN front OF his protectioaist scheme Of
"specIfc dGties'-a mode ot stating the question
which, 10 these who know that "reyenue tariff"
has long been the very shibboleh OF the American
frte.trace party, will at once suggest that MIR.
NJ Ninr he IN tIe le.- mol
milo piole cuonist We shall be better able to ap-
prtciste The force and intensity ot the "reaction"
VII, the subject comes regularly before Congress
In the meaniime, all we really know about the
mStieT II, that The Irotectionist President con-
ceiyes his best chance OF gaining u modtcunl Of
",ncouraRement 10 domts.ic industry" TO lie in
skiliu use of the frec.traders' watchword:
Wbether sincere or Insincere, this adoption OF
your opponents political vocabulary may always
be taken as significant homage to their power
ard importance.
The slavery question is, might have been
expected, smoothed over with a ceprecatory pro-
test against the introduction Of exciting topics OF
q sectional character )" but II Is hardly necessary
hmt that cautions Of this kind apt TO be least
tii.cs cious where they are most called for. A
vtIy few weeks will suffice TO inform us whether
tue spirit Of compromise and mutual concession
which has hitherto adjourned, from generation TO
gtLtraiIon, The political difficulties in this terrible
social controversy, siil exists IN sufficient force TO
proloIg yet further the truce between North and
South. For our own.Is we think far more highly
of the power of the Union TO endure and survive
the angry agitation Of "excitIng topics Of a sec
uonal character" than We DO of the efficacy Of
the Preside ntial "solemn warning" against all
agitation whetevor
The chief remaining topic Of the message, pos
sessing prominent interest, Is the state Of the
Unions finances. The believers in human per-
itctibility under republican institutions, will be
shocked TO find how very closely the model rtpub-
he IL utading in the sieTs cf the old world monar-
chIeg end arihtocfacts. Our transatlantic friends
have bad their "lite war;" like less enlighte ned
naiioIs. and now they are busy about meeting their
little till for the deficit, estimated AT up
wards Of 10 millions Of dollars, for the period OF
two financial years ending the let July, 1sJl, ~
announced in the message before us-aDd the Pre-
sident yroposos To iill this unpleasant hiatus be-
tween income end expenditure by the very old
fssh.cn,d eApditnt of a loan. And, worse still,
tie "uuuopsI defence" question is troubling our
pIuhc1n relation, in the shape Of great length
Of frontier" which calls for a more efficient " mill
toIy establishment" Thus. war deficit, loan,
ere soldiers, end more taxes are the most recent
financial Developments of the United States poli-
tics. We trust iha, the American people will be
warned by this ltilc piece Of experience, and will
rr, Gee no further IN tie dangerous and downwar
path and, in the hope OF their timely repentance,
we venture to ntercede on their behalf with the
great peace apostle and 10 entreat that he will not,
ON this occasion, call public meeting TO denounce
the Sin Of subscribing TO a" "war loan"
The Departure or the Arctic Discovery
Ships.