Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-08-28

The Late RevuIsf0n in the Government
Elevenue.-Ehe Effects Of the Iarih / ne
cans ana Repr1 bifcans Tnftfng---The
Great Fails Decisions
WASHINGTON, Aug. 23.-IE is syear since the COM
merciaI revolution began with the failure Of the OHIO
Life and Trust Company. Il has not yet ended
aud the public revenue Is perhaps yet to experience
lis severest effects. The country has not recovered
fran it, and cannot for some time Business Is dui,
even in its great centres while in the interior there
is continued state Of slagnatiOn. There IS no &C
tive circulation Of money in the country, athougn
there is considerable accumulation Of idle capital
This is the period Of the year when business Is
ordinarily most aative-When importations are
largest and when the country dealers buy in their
stocks. But we see that instead Of al importation
al NeE York Of six millions for the third week
of August 10 1856, the amount for the last week
was less than three millions. The revenue falls OH
in the same or greater ratio.
There is a growing disposition at The North to
impuie the deficiency in the revenue and the de-
preston Of business to the tariff Of March, 1901 .
But nothing could be further remote than is the 81
legged cause from che assumed consequence. The
tariff Of 1857 has not exhibited its effects to any
extent for It had scarcely taken effect when the re-
vnlsion commenced and utterly deranged the busi-
ness and currency OF the country, and reduced the
revenue 1t had no effect unless it was in bringing
into the country goods in advance Of its ops-
ration, which, SO far as they have been thrown on
the market, have been sold at 8 sacrifice high
tariff if il existed, could not create market for
goods either foreign or domestic that the country
does not want and is unable TO pay for. Il is by DO
means certain that resort to high tariff By Con-
gress at the next session will increase the revenue,
unless there should occur at the same time, and
/ from other causeg 3 general revival Of trade and
busiuess; and under such recuperaion the revenue
! would rise without a change in the tariff At al
events venture the prediction that Congress will
not tamper with the tariff at coming short session.
/ The New York fusion convention Is q matter OF
political moment Whetherit be considered in refer
enee to the men who controlled il or the time and
place of holding it, the influence which il is IN
! doubtedIy 10 have upon party moYementsi in the En-
! pire State Il is extraordinary with what slacFity
! both the republicans and the Americans OF New
York second this proposed fusion movement. They
vie with each other in mutual concessions Of hell
! principles for the sake Of the desired harmony
Even Horace Greedy comes forward to renounee fur
Their opposition TO the admission Of new slaVohOld
ing States.
The truth is that both Of these parties in New
York and in other Northern States, were lettering
and there obliged unite their interests in order 4
| obtain 8 victory. The movement extends far be
yond the limits Of New York. Il commenced il
Ohio under the leadership Of Mr. Thomas COrWin
In illinois, so far, the fusion has been OF another
character. The Americans have there manifested
disposition TO merge with the Douglas democrats
Bot they will, probably, come into the CorEin an'
Greedy movement, and unite with the republicans
1t is believed that Judge BreEer when the yer
dict Of the jury the case Of Ihe Great Pals Com
pany shall come before his court will set it aside o.
account Of excessive damages and as being found
ed upon sn erroneous cons trnoiion Of law. If b
shout no Hevef confirm it. the land will not he Ia
ken by the government. The resources OF engin
eering will avoid the necessity Of submission 70 s
gross an imposition Baltimore SIM