The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-02-08

fti 'aan
1858. ..............l 0,l2o,O0o aodoUOV
1860 1895 900 243O0 |
1861 .,.......... u ,6O000O s5souo0
1869 Ia 625 900 1920 900 |
1868. .,...........,l5 ,75O,000 Z,l!oUOo
1864 ...,..,..........Ib,SI ,0OU z,uiVVUV
We venture to say that if the state of these
two funds varies in any material degree from
the above statement, the variation will be an
increase of railroads freights and diminution
of canal tolls Indeed, when it is borne in
mind that the rates of tolls are constantly being
reduced in order to keep up ruinous competi-
tion with the railroads, it is much more likely
that in 1864, the net revenues therefrom will
not exceed 81 600, 900 than that it will amount
to the sum we have stated. We feel so con-
WINGED of this that we look forward quite con-
fdently to deficiency that will require us to
provide for the payment Of our present State
debt by State tax. Nothing, either in our pre-
sent prospects Or in the history of competition
between railroads and canals abroad confutes
the expectation that, ten years hence the tolls
on the canals will fall far short of the annual
interest of the sum they cost
1t is now proposed to raise ten millions more.
and sink them in the same well with the rest,
In other words, we are called upon, in view of
the patent decline of the canal business under
the competition of railways to make further
investment therein Could any proposition
be more monstrous? Fancy proposing it to
man OF business: advising him frankly and
squarely, as he has already lost vast amount
of money in an unsuccessful scheme, and sees
its entire failure imminent, to continue to in
vest in the same way, without the smallest hope
of increased return Conceive the feelings of
the proprietor of an old line of stages running
along the Hudson, if one were now to propose
to him to spend a few thousand dollars in set
ting his line afoot again, buying new stages,
fast horses, &c, in order to compete with the
Hudson River Railway and the steamers Just
such proposal is the one on which we must
decide on the 10Th. Common sense tells US
plainly enough that to embark ten millions of
money in scheme which is sure of ruin is pal
pable absurdity The whole thing is nothing
more than trick of politicians to plumber the
people for their own corrupt purposes, for the
elevation of a man like Seward to the highest
offices Of State, and their own ACKNOWLEDGMENT
out of the spoils.
MORE OF THE SCARLET LETTER-We have re-
ceived fresh evidence touching the Scarlet let
ter. We are now informed through the medium
of letter from distinguished politician of
Ohio to distinguished politician of New
York, whose names we have, that the Scarlet
letter, OF at least one of the Scarlet letters of
Gen. Pierce of ls48, was verySextraordinary
docuTent. 1t referred to proposition which
had been made to Gen. Pierce to run for the
Presidency in '4s in the place of Martin Vau
Buren, proposition in regard to which Gen.
Pierce indicated good deal of sympathy, but
not quite sufficient to take the load from the
shoulders of Little Van.r We shall give
this evidence and the names of the parties con-
nected with it, together with Mr.. Benz smn
Galbrath's reaflrmations against Mr.. John
Cochrane, within day or two.
We have also evidence before us as strong as
the Scarlet letter that Gen. Pierce was an ad
vocate of the Wilmot provise resolutions, passed
by both branches of the New Hampshire Legis-
lature in 1S47 These resolutionS were signed
by Harry Hibbard, then President of the State
Senate, and now the mouth piece of the White
House in the House Of Representatives at Wash
ington. We have also copy of certain resolu-
tions presented at public meeting by Gen.
Pierce, anterior to the action of the Legislature
aforesaid deploring Southern slavery as great
moral and social evil. 1t will be recolected
that such was the burden of the celebrated New
Boston speech, as reported by Mr.. Foss. All
summed up together. this mass of evidence is
conclusive in establishing it as fixed fact"
that Gen. Pierce was decided anti-slavery and
Wilmot proviso man down to the passage of the
compromise measures in 1850. We shall make
@ plain case of it in day or two.
Meanwhile, as the shortest and simplest way
Of settling the controversy with John Cochrane,
we ask again. why does he not bring out the
great Scarlet letter? Has he rummaged among
all the pigeon-holes drawers, shelves. boxes,
and old barrels in his office and at his house for
it? We must have it. The cause of truth and
justice demands it and if that letter cannot be
found we shall not be answerable for the conse-
quences.
FOREIGN APPOINTMENTS IN THE SENATE-NE-
BRAsKA AND THE SPoILs.-We understand that
there is good reason to believe that the whole
catalogue ofGen. Pierce's foreign appointments,
still unconfrmed, will be duly ratified by the
Senate, including Belmont, Sickles, O'Sullivan,
and all the rest Mr.. O'Sullivan is now at Wash
ington, lobbying actively fer Douglas, Nebraska,
and the repeal Of the Missouri compromise. He
will be proper man for Portugal. He will be
convenient for giving advice aud assistance to
Mr.. Soul6 at Madrid in getting up Spanish
coup d'etot or in concocting such treaty a.
will leave a loop-hole Of escape for future fill
clustering operations against the island of
Cuba 1t is rumored that Gen. Cass has no
particular feeling Of generation for Mr.. O'Sulli-
C.. y. L. L.. FL