The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-05

In the meantime, however, spectators must
| look for a continuance Of the reaction here and
the value OF merchandise, real estate, shipping
ana sound and fancy stocks Of all kinds will go
down. The cost of living must be reduced. and
our people must give up the foolshly extravagant
habits in which they have been indulgiag. New
port and Saratoga must show less folly in dress
and diamonds, and if families will 60 into the
country fer rest and recreation, quiet country
| reats must come more in vogue than they have
| been these last few years. No people on earth
has ever exhibited the folly, exttavaga ice, waste
fulness and rushing forum that ours las shown
for years past The crisis is close upon them
now, and if they will not be wise in time they
will surely pay the penalty of their own foolish
ness Our merchants, shipowners and spectators
will do we'll to take in sail and prepare for the
coming storm.
Information al Retsliation-l.orvi Pn'merston's
Inst Kick. '"
No one doubts that the pretext which has been
assigned FOR the disqualification Of che Dallas
Clarendon treaty by the British government is
merely intended to cover the abruptness Of its
absolute rejection We are convinced that, If
| that pretance were removed tomorrow by the
action of Honduras, we should be no nearer the
completion Of the treaty than we are at present.
The circu, distances which point to that conclusion
| arc Of too positive character to permit US to
ente rtain any other opinion Let US Just examine
what those circumstances ere TO test its correct
| noes.
| In the FIST place, a remuneration of her claims
| Of sovereignty over single ROOD Of territory,
acquired either by force or fraud has never yet
been wrung from the equity or peaceful disposi-
ton che hss always shown herself regardless not
only of the rights of other nations, but of the
cost at which her conquests are made. The in
auguration of q policy which would show
disposition on her part to consult the
voice Of justice and the interests of the
world generally, would indeed 10 something no
vel in her history, and would hold out hope
that her boosted progress in civilization is not
confined merely to the arts and re6nements of
life, hut is Of more extended aud philanthropic
| character. Nany fancied that In the alteration
OF her policy with regard to her colonies they
could perceive something of this improved spirit
| ofbumanity. This opinion was strengthened by
| the unexpected solution which ehe consented to
give to the Central American question by the
cees.on of the Bay Islands to Honduras Alas
for the convictions of those believers in human
perfectability, they drew their conclusions from
wrong premises 1t il Unnecessary for as to re-
verS to the motives which led to tie concessions
made TO Canada and Australia II Is sadicient
to ray that fear, not sense Of justice was at the
bottom Of those measures and that the people OF
those colonies have their own firm resistance and
not tie equity Of British rulers, to thank Tor the
confirmation Of their rights. OF different but
equally sordid character wero the motives
which, to the surprise Of every 0ue, induced
Great Britain 10 give her assent 10 a proposition
which was to take from her her pretended rights
of sovereignty over part of the territory Of Hon.
drraa To tbose who raised her good sense and
moderation in this proceeding it might have been
object that ii WAS directly opposed to all the
principles and precedentI of her past policy and
that she must Rave some more powerful interests
at stake than those assigned to lead her thus
t. Z part from her usual course. The feeling
! Of se.'siactioa, However, which the prospect
Of the settlement Of this troublesome question
produced, was too profound to permit Of the
expression Of any dorbt OF her sincerity; and
ALTHOUGH sCoi deal OF uneasiness existed on
the subject, nothing of il was allowed to trans
pire. The lurking suspicious which we're enter
tanned, have however, been fully justified by
recent event, and the duplicity Of British policy
and British rulers was never more distinctly
marked than on his Central American question
Nothing can row be clearer than that Great
Britain only intnded to renounce her prctensions
over the Bay hlands 10 the event Of certain con-
tirqencies entirely distinct from her profe@ed
object Of securing the neutrality Of the inter-
oceanic transit route. Important o. " that right
TO he. commerce, il sinks into insigniacance when
compared with the greater game played for by
Der Ia tleee negotiations. That gams We need
scarcely add, Wa the entapgling this country,
If not In formal alliance, ct least ir such close
bords Of arlity ss to justify The hope OF failure
mutual support British statesmen have at length
been avskeled 70 The conviction that such q con-
peeton i the only guarantee Of stability which n
British administration can have. With the Chi
noee war-Lis grand coup de 1edtrs-in prospect
and an uncertain House OF Commons 10 rely
upon, Lord Palmerston felt that be must at least
make snow of conciliaiing the United States
Hence the ostensible concessions offered to our
| views and the sacrifice made Of Bntish amour
PRONE In the pretended abandonment to Hondu-
rss Of the Bay islands
| That this Remuneration was never Intended to
We anything else than . contingent one, depend
ant upon an Interior contract, we have nov
abundant evidence. No sooner Ia the determi-
nation Of this country TO hold aloCf from any &C
tive cooperation win Great Britain In the Chi
nese war ascertained than the whole programme
Of sfaire in cornectio with Central America Is