The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-31


and Western while sales were to moderate extent,
being mostly confined the local and Eastern trade
Wheat quiet with sales OF small lots Tennessee red
at 81 L. and Southern white at 81 rs Corn was steady
for white and yellow at SIC 60lc, the latter figure
for that in shipping order small lot Of old oad al 65c
Pork steady with sales OF old and mess at SIS 80
sl6 aud prime at SIS 25 Beef hams sold at SIS so
$40 and about 1000 packages shoulders and hams
sold at &C. for the former and at &C. aSAc for the
latter and chiefly at the outside figures. Sugars
steady with sales Of about $50 hhds New Orleans and
Cuba with $50 boxes for refining, at rates given in
another place Coffee quiet Freishis steady.
To Liverpool in bulk and bags taken at SID.
Cd, and wheat in ships bags at sgd, with flour at 2s
and erce beef at As 3D. to London cheese taken at
sos, and packages Of bacon 25s.
The Legacies of Poor Pierce to Mr.. Bucha-
mans Administration.
All the difficulties which now surround the
administration in reference to Kansas, Utah.
Central'America Spain, and the financial EN-
barrassmnts of the treasury and the people,
may be set down as among the legacies be-
queathed by poor Pierce to Mr.. Buchanan, in
GLIDING codicil or two in the handwriting of
Senator Douglas
Mr.. Pierce's election was great triumph
and his administration might have been great
success had he not gone out of his way to Gre
ate trouble for himself and his party. But, I'M
fortunately, Mr.. Pierce was a candidate for Sc
cond term, and Mr.. Senator Douglas was a rival
worth looking after As a bold stroke for
Southern capital, Mr.. Douglas hit upon the
Kansas-Nebraska bill. Instantly Mr.. Jefferson
Davis and Mr.. Senator Mason whispered into
Ia &c he
movement or be supplanted by Douglas. Poor
Piercew was at first incredulous and then he hest
tated, and then he surrendered at discretion.
The bill was passed and approved and the Pan
dora's box Of the Kansas agitation was thus
opened upon the democracy and upon the coun-
try. Thus the legacy number one from poor
Pierce to Mr.. Buchanan was created by the
sectional rivalries of Douglas and Davis for the
succession.
Next, with regard to Spain, Cuba, Central
America and the flibusters. II was from the
want of harmony. decision and backbone in the
Cabinet of poor Pierce that all this business
was not brought to definite solution during the
Russian war That war afforded the golden
opportunity for enforcing the Monroe doc
RIGA and for persuading Spain to sell Us the
island of Cuba for good round sum ; but alas
poor Pierce, courageous one day, was frightened
the next, and with his shilly- shallying and dily
dallying. from day to day, month to month. and
year to year, he frittered his opportunity away,
and left otf affairs With Central America and
Spain worse COMPOUNDED and entaagled than
ever before. This was legacy number two-in-
Guiding Gen. William Walker, whose authority
was recognized or repudiated, approved or con-
demned, as the wind happened to blow over
poor Pierce and his Cabinet.
The third legacy involved the present fnan-
oial embarrassments of the treasury and the
country, and the civilized world. This revul-
sion Is the result Of an excessive specializing
mania and paper imitation and this rage for
speculation and paper and confidence, and credit
substitutes FOR money, was to great extent the
result OF the railroad land grants and other
heavy specializing lobby jobs of poor Picrce's
administration. The beginning of this business
however. was the famous Central Illinois Rail-
road bill pushed through Congress by Mr.. Doug
las anterior to the Pierce administration
By this bill the company secured grant
of the public lands. valued in September
last at some thirty millions OF dollars
II il also understood that among the specu-
lators concerned, Mr.. Douglas by this bill was
made millionaire, or at least half a mil
lionaire. The great success of this project
brought upon Congress, under poor Pierce's
encouraging Kitchen Cabinet dispensation. that
enormous catalogue Of railroad land bills and
ether lobby jobs to whichw attribute the epide-
mic for Western land and Sll other speculations,
which eliminated in the general explosion that
followed the collapse of the Ohio Life and Trust
Company. Legacy number three.
Thus, with twen,y-three millions surplus spe-
| Gle in the treasury few months ago, and with
treasury estimate Of forty millions surplus for
the current fiscal year held out TO the encourage.
ment Of Mr.. Buchanan, the first necessity Of his
First session Of Congress has been a call for
twenty millions Of treasury notes. with an
empty treasury as the specie basis for the issue.
Legacy number four is Brigham Young, the
Mormon Governor of Utah-a legacy from poor
| Pierce to Mr.. Buchanan, and from Fillmore to
| poor Pierce. The expenses Of this legacy to
Mr.. Buchanan will probably already cover
| five or six millions Of dollars, and
the sum may possibly be swelled to
twenty millions before the close Of the
present session Of Congress. A rather incon-
venient legacy this, when the weekly treasury
receipts from the customs at this time have been
reduced to the average Of about thirteen millions
for the year. Cut downt to the narrowest prac-
teal margin, the treasury expenses for the en-
, suing fiscal year will be some seventy-four
millions, while the receipts from all sources will
probably not exceed forty millions. Thus at the
end Of another year there must be an issue Of
forty millions Of treasury notes, or a heavy
loan, or heavy taxation Of the people, to make
| both ends meet.