The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-27

Lords would readily b. forgiven the want OF q 20 /
pAlar origin it TO make itsei ~ " eaniy might
he exnonent of a more elevated calner, ami more
Aswrect pnbic oninion than can be found within |
Ae walls OF merely popular Chamber With I'M |
anutted power for such task with excellent oppor-
tuntes and motives OF self preservation and honor
ahle ambton-the very strongest that can appeal 70
ne human mind-the House OF Lords has been con- /,
tent 10 forego in great measure this noble destiny
end to subsde into a court for registering the de-
ssees OF the House Of Commons, at which the most
exciting topics and most important DISCUSSIONS can
only scanty atte ndance OF arstocatic ounS
90. II the House of Lords shall ever cease 70 form
important part OF the constitution OF this country
\ will owe that misfortune not 70 the'democratic and
Swelling spirit OF the people, not tn the absence OF
opportunity for usefulness or OF a thorough APP
rreciaton Of its powers and its functions, but t.
+ own systematic sbdication Of the real business
= legislation, and the sentence Of incapacity for
1nainess which it is bent on passing ON itself Were
tAe House OF Commons to bestow ~ little labor on IT.
1Octsons the House OF Peers-shOuld the percent
aGe OF attendance there, upon the whole number OF
nemben, become az small as in the House OF Peer
we should speedily see the power and influence
which the House possesses transferred to other
and more energetic bodies. An aristocratic and
hereditary chamber cannot expect TO remain unin-
jwed by . course OF inaction which would manifest
u prove fatal to the influence Of popular assembly
We heartily wish that the House Of Peers, which
sontans 80 many able men and so many distinguish
ID members, would signalze the new political era
naarked by the accession of new ministry, by enter
hg in earnest the path OF honorable labor and ex-
tended usefulness which Is always open before It,
From the London Globe, Jan. Ill
Should our rulers steadily adhere TO our present
policy" says the weekly commercial report from
Nottingham /" and succeed in inducing other nations
70 adopt our example, there il little doubt that all
classes will be enabled to reap the rich blessings
placed within our grasp We doubt, however,
whether the power to attain and command the rich
blessings depends entirely upon the condition sug
gested. Unquestionably peace has contributed very
greatly to the developeinent of the general proper
y which distinguished the close of the past year and
eh0racterizes with continued expansion the open
ing Of the present years but the Of that pros
perity do not, the Nottingham commercial writer
npes, rest with the powers OF Europe, or their vii
kngness to remain at peace. III were so, we might
indeed be under greater anxiety for the future.
The principal causes peculiar the present season
are to great extent Independent OF the crowned
powers. The first cause Is, that the producers OF
this country, throughout the whole round OF trade,
arc producing things actually wanted at home and
abroad The energies OF trade are not always 80
happily directed but il does happen at the pre-
sent season that and all directing their ener
1es precisely IN the manner most desirable; and the
consequence is that very general sOnndness OF trade
which occasions such confidence for the immediate
future. The second cause is that extensive classes
or communities ut consumers, for whom we are work
ing, are themselves IN an excellent condition
This applies very greatly To foreign markets,
through combination of fortuitous circum
stances which could neither be brought about
Intentionally, nor very completely character /
lied In sentence although excellent profit (
can be made Of the combination that /
n mas happened But thCre are TWO classes
whose condition il peculiarly favorable One GLASGOW
siss of the 1000 600 who within the last eight years
have left overt charged labor market where they
were struggling with hopeless poverty and have be
come, in the West or the East cooniss needing
manufactured products, and well able to pay for
those products. The second class consists OF our
own industrious population at home whom the ac-
tive commerce Of the world the working of free
trade, and the improved state Of the labor market,
have placed in circumstances much more easy,
and SO much better fitting for them TO consume
portion OF our own products These causes OF the
prosperity arc substantive and solid in themselves
That they are not to be annuled at by the bad
passions Of bellgercnts on the Continent OF Eu-
rope, or by the caprices Of crowned powers. They
exist; and while they exist, there viii be the means
81 continuing the prosperity which they occasion.
In no case, indeed, would it be within the power
Of any official men resident in London to regulate
either the will of crowned powers, or the passions o.
angry communities, even to induce a. other
tions' hastily to adopt our example Already We T
have sign, in the language OF the Consttutioaaef i
that France suspectng our free trade Of sinister
tives, will hesitate some time before she initiates
thoroughly. Germany has not yet advanced to the
point at which Mr.. Husksson brought our own Par
ha1nent; and "other nations Of Europe which
might extend their trade with as, such as Italy
Hungary, are kept in subsection, and unable TO
carry out their own desires. Sir Robert Peel indi
Gated true policy when he said that must not
await, although we might invite, the reciprocity Of
other countries, but that we must extort imitation
by taking the initiative for ourselves. Inc sequel
has justified his advice, and there j. no doubt that
cur government viii continue his policy.
Luckily for rs, our trade depends not upon the
notions Of individuals, however exalted, but upon
ahc wants OF muititudes and the mGltitudes viii 60
On wanting, however the exalted individuals may
decree. Our path lies mainly that portion Of 4
the globes surface which is most extensive and most
under the command of maritime powers. Our sole (
rival in these natural paths is not only exhibiting
growing amity but is bound 70 us by those suhstan
aal ties of mutual interest which are well understood
On both sides. II did not need the speeche. of Mr.
nf AufA
testimony they in the present week, To 7
aell us how much England and America are bound
together. We say valuable testimony IN the pre-
sent week. because an undue fuss has been made
about another eminent American. In his own
country General CASES hearty and somewhat ex-
Aggerated style, his purely American view Of foreign
subjects and his thorough good feeling, are well
understood, and make him valued with men who
would not receive his inpUlsiye orat0ry In lien OF q
deliberate judgment. Our own writers sometimes in
dulge Casslke impetuosity, and do not always
handle American affairs with perfect knowledge or
discrimination; and hence, when General Cass
taliates with his true Yankee blows, his audience
relish the display u vigor a. the spectators OF
fight in which their side get the better for the
moment. But il is a man Of political experience
and GOODNESS conscious OF existing obligations, aud
pr0vdent for the future, like Mr.. ngeTsoH, who can
best explain - u the true bent Of the American
mind. We a.e 10 remember that in the person OF Pre-
0dent Pierce, the Americans have jnst elected free
trade to the supreme government Of their affairs and
fhe substantial community OF interest which il
70 nakedly ana on sucn an uDprecedGnttd sc6e Oh +
magnitude in our commerce, cannot be hidden TO
she view either Of English OF American statesmen
The recent commercial history OF the United I
States, making due allowance for the differences Of
the two countries, reflects our own The same pc.
cuflaTities that characterize our present Of
extraordinary prosperity distinguish that OF our
great commercial brother. The "expsnsion' which |
exploded in 1857 brought about mainly BY bpr-
rowing, through the joint stock instrurnentaty. The
United States Bank complicated itself with the inan-
eial affairs of several States; led them into loans for
purposes which could not BE- Immediately accomplish
ed: and issued It's paper IN unmeaSired profusion
Speculation grew mad and one fact alone illustrates it,
character. The fiImes OF Michigan deserted their
crops to rot in the Md. while they specusted in
Western laDds and in States four rose tothity
dollars barrel The bubble exploded the Bank
was bankrupt some Of the -iates 'cppdiated 3