The New York herald., 1850-06-25

has not allied the point desired. Lumber is still
sold for its freight, or for less than its
cost; and somebody must bear the loss. II such a
fire could not advance it's price, never was mar
ket 80 much glatted, and the value Of the lesson
will be the greater for the importance Of the injury
Our commercial men too initiative and too
reckless. When lumber was commanding heavy,
Inflated prices, thousands rushed in share in such
remarkable profits. Could anything less have been
expected than no marketl What is true of lumber
is true, likewise. Of other articles of commerce.
The want of mercantile ssgacity, the want of study
on the part of speculators, the recklessness of
adventure, have contributed to a general embar-
rassment among certa in class of operators, when
judicious traffic might have terminated bene6.
cially for few
However, il is a very weak and unmportani fact
that does not carry ito moral with il; aud il the
discoveries in California do not virtually turn the
heads of our merchants, we may congratulate our
selves with the lesser evil that il will turn some of
their pockets inside out Every steamer brings
heavy consignmenrs Of gold, and many prosperous
and many disappointed adventurers return in them,
the former to distribute of their plenty, aad the
latter of their of experience. Both are use
| full. The philosophy of labor can be learned
equally by success and by failure-and they will
be wise, who while the cities of the Pacific are
growing into the stature of full growth, do not
become infatuated on the one hand, or discouraged
on the other
Having glanced at the commercial state Of Cali
fornia, few words may not be out of place with
respect to its political condition. The action, or
rather naotion, Of Congress does not seem to give
the people much anxiety. They seem T. under
and Ia, ,tar~ a.
are about. Having only one pursuit-that Of the
acquisition of wealth-politics must be their pastime
only. 1t can be nothing more. They are too
we'll acquainted with the relations Of their territory
to the Federal government, to press their claims
upon it unreasonably. The first movement of the
cabinet, taken together with their subsequent "mas-
terly inactivity" aided by the other specula,ors in
Mexican land titles, had early been through.
The Cafornans have no disposition, evidently, to
assist The cabinet its abetors, because they are
correctly posted up with respect to the claimants Of
large tracts Of land, and know precisely upon what
they ground their claims, and 10 what extent the
cabinet are interested in the premises. No great
stretch of wisdom was necessary at hrst-no deep
scrutiny is requisite now--tO perceive that some
thing more than the Presidents policy" urged
the letterwrters of the cabinet to visit, with vio-
lent vituperaton, the efforts of Mr.. Clay, and stimuli
taneo usly, from Maine to Florida, to attack, with
unexampled ferocity, the peoples cabinet OF Thir-
teen, whose wisdem never ought to be placed in
opposition to the specuiating virtue of the admins
trative council. In this state Of feeling Cafor-
MIA we rejoice. We were afraid that the power Of
the cabinet, and Of those who have become inter-
ested, also, in surreptous titles to land would be
exerted upon the people of California; to threaten
the Union with an independent government All |
this apprehension is at an end. The Californians
have seen through the trick, and California is safe
The CuBA INVADERS TRoUBIE AT New On |
LEANs.-Accordng TO telegraphc despatch from |
New Orleans which We published in yesterdays |
paper, the grand jury Of New Orleans have found |
bills Of indictment, not only against General Lopez,
but also against some very important personages in
that region, and amongst them General Qui,man,
Governor of Mississippi, Judge Pinkney Smith, Of |
The same State; ex.G Governor Henderson, and seve-
raj others. IL this information is correct, the pro-
ceedings of the grand jury cannot be looked upon
any but an anomalous light. We cannot believe
I, and will not, until we see il confirmed by the
mails, because the tendency Of public fee ling in |
New Orleans was directly the reverse. II, how. !
ever should turn out to be true, il will only show
how extremely desirous the American people
they may be, or however somuch they may dissp-
prove Of them. No matter what the result of the
trisls ofthese indictments may be, they WILL such
proceedings have actually taken place, make the
law Of 1873, on which they were founded, very
unpopular and will, no doubt, induce the people to
seiiaie its repeal.
lfsuch proceedings have taken place in New Or |
leans towards the men who took part in the |
invasion Of Cuba, what is to be done TO those |
pcnoBs IN New York who were equally ac- |
tive in that matter There are parties here |
who acted openly and broadly as any |
in New Orleans in that practical invasion, and |
who were cognixant of the whole siiair-who huag |
GU, banners from buildings, and did all in their
power TO create 4 sympathy in favor Of the move
ment They have done everything to bring them
within the law Of 1918, and within the control OF
the grand jury Of this district. What IL Prescott
Hall about, that he does not institute proceedings
against those PEOPLE Is he busy in preparing
and getting ready his beautiful summer residence
for the reception Of the President, at Newport that
he cannot attend 10 The infrsction Of the law of
1873, or of our treaties with foreign powersl Or
do, he believe that as the whole thing has passed
off, IL would bc the best policy to forget the whole
affair, and endeavor to create public excitement
for repeal OF that law This would seem TO
he the most popular course TO pnrsue, II We are
TO judge from the New Orleans movements. Bat
this might bring in conflict with Great Britiin,
Such u collision, however, would call forth the
feelings of the whole Amer.an people, for nothing
would be more popular thaa general quarrel be-
tween the European posers and the American
government, in reference to any foreign possession
this continent. The very debates, even, ia the
Bntith Parliament, will be read with feelings of
great indignation, and the houses Of Lords aud
Commons souudy bera;cd for attempting 70 iati-
mida,e the American people, or even 10 express
opinion in reference to the matter
The truth is, we believe that II the ksw has been
violated IL was hy the secret friends Of the cabinet