The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-02

bulk and ships bags a, I'D asd with -four Cd and
cheese at 2s To London oil cake taken a, 3os per
ton and -four at "a Cd Havre-Coon and bone were at
&c. Rice and pot ashes at -, and pearl do IS.
The Present Financial RevulsiOn and the Inn
pending Political Revolution.
In illustration of the political workings of
this financial revulsion, we spread before our
readers this morning chapter of interest
ing and very significant extracts from the politi-
cal newspaper press Of the country. 1t will be
remarked, however, that these extracts are
chiefly from the old line whig press. and that
they strongly foreshadow the miraculous resur-
rection of The old whig party and the old whig
issues-bank and tarif-upon which was fought
the tremendous, protracted and decisive war
between Gen. jackson and Henry Clay.
But the most suggestive of all these news
paper commentaries upon the political ten
denotes Of the times is that from the National
Era. the central organ at Washington of the
abolition wing of the republican camp. The
Era is evidently alarmed at the prevailing
signs of the times. 1t has observed the univer-
sal decline in the niger agitation and the cor
responding losses to the great Northern repub-
lican party during the present year, and is
struggling desperately to keep up hue and
cry. no longer available, against the "slaye
oligarchy." The public mind the thoughts,
inquiries. fears and expectations Of the
masses of the people Of all sections are now
involved in the general discussion of the ways
and means of relief from the financial and COM
mercial evils of the day and within the next
six months we may expect to witness the prac-
teal commencement of a reconstruction Of our
national parties upon this or that federal policy
in reference to the banks, the currency, the
tariff and the bankrupt question.
Assuming that the Kansas imbroglio will be
formally and finally disposed OF to the satisfac-
ton Of the country before the adjournment of
the next session Of Congress. in the admission
of Kansas rs n free State, according to the law
OF popular sovereignty, the last practical issue
Of the niger agitation will then be settled and
ret aside. In the interval we anticipate des-
perate effort from the Southern ultras to over
turn the administration. dissolve the Union. and
get the world in blaze OF fire but the mani
fest destny Of the disputed territory and the
justice Of the policy Of Mr.. Buchanan are 70
clear that We fear neither the destruction Of the
administration. nor the dissolution Of the Union,
nor universal confagration, from the honest
and lawful admission into the Union OF Kansas
a. n free State.
The Kansas issue, then, being thus satisfac-
torily disposed Of and set aside, the new aud
practical issues in regard to the financial aud
commercial duties of the government will come
into the foreground in bold relief. In this view
Of the political horizon. our readers will have
remarked the wise caution and deiiberation
which have characterized, thus far. the move
ments Of the Cabinet in reference to the preser-
walton Of the solvency Of the federal treasury,
and the restoration of harmony aud prosperity
| in our commercial and financial affairs. Aud il
! il well that the administration should act upon
| these subjects carefully and cautiously: for the
reconstruction Of parties for 1860, aud the re-
suits of the election for the successor to Mr..
Buchanan. will depend very materially upon
the financial and commercial policy which bis
administration may pursue.
II II probable that the President, In his mcs.
sage to Congress, sdhering TO the good old
maxim that caution is the parent Of safety
will lmi, HE financial and commercial recon.
menda,ions in connection with the crisis to the
necessary rSfSnchments in the public expendi-
lures required to bring the actual expenses OF
the treasury within the margin OF It's
estimated receipts, including, perhaps, some in
cidcnta tariff recommendations Of revenue
character But should the President deem IL
most judicous to conine bis suggestions to the
two houses. in December, within this contracted
circle, the debates Of Congress will speedily de-.
| velopc a series Of new financial and commercial
propositions Of far more comprehensive cha
racter than those solely directed TO the solven-
cy Of the treasury. Thus, before the end OF
The approaching long session, We shall. mosi
likely, between two pretty well defined parties
In Congress. have the question Of a protective
tariff. the bank question, the question Of a mo.
| difcation ofthc Su5-Trcasury system into some
| thing like positive bank regulation and I'M.
| question Of a general Bankrupt Law in full
blast And. once in full blast, these Issues viii
gather volume and strength, ~ between two
| great parties, in Congress and throughout the