Worcester daily spy., 1858-01-01


Today is the commencement of new year.
The year 1857 will be long remembered in
the American calendar, as one Of unexampled
embarrassment in financial matters, and scarcely
less remarkable for many of the political events
which have transpired
Within twelvemonth, more commercial dis
asters have oyertaken US, and more mercantile
revulsions and greater pressure in the money
market than have occurred within similar
speriod in the lapse of half a century. For
tunes, the result of years, if mt lifetime of
tell and care and hard handed industry, have
disappeared, as il were, almost within single
night and left their former possessor to extricate
himself. as best be may. out OF the complicated
embarEassments in which he has found his bust.
ness affairs involved.
In the political world, changes Of scarcely less
consequences have marked the progress of events
in the United States. The supreme Judiciary of
the Union descending from the lofty station
they have before occupied, have reversed all the
decisions Of former years, in favor of freedom, and
debased themselves and diseraced the country, by
procaiming, as the doctrine of the Constitution,
the infamous heresy that wherever its starry en-
sign waves. in any Of the national Territories,
there slavery goes, and must be protected by the
arm Of the general government. And all this in
the face Of the doctrine once maintained by the
federal courts, as democratic and correct consti-
tutonal law, that ''sayery is merely the creature
of municipal law, that the local laws Of any State
authorizing slavery, can be transported into
the Territories, nor slavery exist there but BY
a local law Of the Territories sanctioned by Con-
gress. the legislative act Of State in its SOW
eregn capacity" Such is the contrast which
the past year has presented, as compared with the
precedents Of former years. in professed Demo-
cratic doctrine on the slavery question, Demo-
cratic President in the year 1857 going to the
EXTREMIST verge, in endorsement of the doctrine
announced by Judge Taney, Of the legitimate
existence of the institution Of slavery, in
whatever Territory may be possessed by the
United States, in spite even of territorial enact
menI to the contrary, if existing. A few more
such strides toward the dominion of the slave
power in this Republic, as the past year has ex-
hitnteu, and our Government will, we fear be
transformed into an absolute despotisn but let
us hope for the best, and that the coming year
some new step may be taken in the right direction
which may lead, if possible. to restoration Of
the true democratic and constitutional doctrine
practiced BY the fathers of the Republic, in their
administration Of its affairs.
As to the means Of rising from the effects Of
the severe financial disaster which is now upon
us, thatImust be the work Of time, and can be the
product only Of stern practice of those rules Of
economy and prudence, the violation of which
bFeuehtab the present unhappy state Of things
Let the new year be commenced by return to
the practice. in our business and private affairs
Of those stern old virtues Of hard handed indus
try and economy, which SO characterized our
fathers, and the want of which has led their sons
Of the present generation to strive to live fast
and to get rich with such immense rapidity, that
many Of the most enterprising. and it was sup
posed most substantial of them, have fallen and
been crushed, and reduced to poverty, and worse
thanspoverty, by the mighty crash Of fortunes
which has SO distinguished the year 1857.