New-York daily tribune., 1859-01-01

| the public mind, produced BY the sudden aud
severe revulsion in commercial Affairs. Thn feel
ING was. indeed neutrazed in part BY the confident
expectation generally entertained of speedy re-
turn to the hgh-pressure acti7ity OF the three or
four years preceding. That expectation has s's'
paly failed to be realized. The year closed with
greatly diminished expectation Of the agricultural
products of the North, and still lower prices for
them: while even cotton, which hitherto had kept
| up. has begun to give way under the pressure on
the market Of probably the largest crop ever yet
produced Our manufacturers, especially those OF
| iron, continue greatly depressed. Our ships are
lying idle in every harbor Of the world. Very lew
Of our railroads psy dividends and still fewer earn
them. Stocks, after some spssmodic revivals,
have sunk again to the level Of panic prices.
Our people, especially our Western farmers AMI
traders, are involved in debts the burden OF which
presses heavier and heavier, aggrieved, as it has
been, by short crop. The prospect of relief is
distant. Speculation is dead. Buying and selling
are confined to iumedste wants Immigra.
ton has almost ceased. Wages, rents and profits
have greatly fallen. Yet, such is the power of the
human mind to adapt itself to circumstances, that,
although nobody anticipates, as almost everybody
did year ago. speedy issue out of these troubles,
the general feeling, nevertheless, is much less
gloomy than then.
Turning from commercial to political affairs the
past year has not exhibitedso far, at least as the
administration Of our national affairs is concerned
much of which to boast The first four months of
the year were consumed in desperate attempt, on
IL -
force upon Congress the recognition Of the bogus
LecOmpton Pro Slavery Constitution as the act and
will of the people of Kansas, and the admission of
Kansas as State under that Constitution. But
ieveral Northern supporters of the Administration
who had swallowed all the previous Kansas out
RACES, found this new one too enormous and the
pretended Constitution having, in spite OF the Pres
ident, been referred back to the people of Kansas,
was rejected by them with contempt and disdan.
Meanwhile, the Territory being forbidden to form
a State Government, and the Territorial Govern
ment never having existed except for purposes OF
aggression-the district about Fort Scott, In
which alone the Pro Slavery party has any
strength has continued the scene of cruel murders
and of mutual plunder. Since there is no longer
any chance Of turning zeal for peace and order to
account for the beuent Of Slavery the Federal
Territorial officials and the Administration at
Washington look on with entire indifference, lea7-
ING the infuriated parties to fight it out in their own
way-sn operation in which the Pro Slavery party
seems likely to come of second best.
To the Kansas excitement succeeded the pros
pect of rupture with Great Britain, growing out
of the zeal of Mr.. Cass against the right OF search
and visit, which he insists are the same thing.
This question was brought prominently forward in
consequence of special vigilance on the part of the
British cruisers on the coast of Cuba, and the visits
which they paid to number Of American vessels
III the ports of that Island and the neghborng seas.
Very exaggerated reports were circulated on the
subject Of these visits, and even war began to be
talked about But the subject ives soon tempo
rsrily disposed Of The British Government con-
ceded that they had no right in time Of peace, TO
visit and much less TO search, vessels known to be
American. At the same time they insisted that
they had right, under suspicious cirru IN 'eonces,
Ia be satisfied on the question OF nationality; and
they invited our Government, since it objected to
the right of VISIT ss hitherto practced to propose
some method satisfactory to them for sscertaining
tne nhtlOnD.ly vi tusPcCtcu 'oeeoiS' Dus "ui wv
eminent, though loudly disclaiming any intention
TO convert the American flag into cover for piracy
and fraud, yet declines, while protesting against
visitation to suggest any other method for verify
ing nationality; and as the British still insist on
their right to protect themselves against being i'm
posed upon, the subject thus remains open asa
fruitful occasion for controversy and collision.
Meanwhile, our Government has msde s new eI.
hbiton of ito imbeciity, in its failure to prevent
fllbusteIing operations against Nicaragua, while
its authority has been get at defiance in still more
marked and mortfying manner by the recent land
ing on the coast of Georgia Of cargo Of African
slaves, imported BY American citizens. Whether
this open and contumsciOus violation of the Laws
and Of the sentiment of the civilized world will be
suffered TO succeed remains 10 be seen.
Amid all this gloom, however there appears
some glimpse of approaching day. In the results
Of the elections held during the year, most en-
couragng prospect has been held out that the Ad-
ninistration of the Federal Government is about
to change hands. Scarcely single Northern State
remains on whose future support the party now in
power can count.
Sadly ss the expectations formed By many Of Mr..
Buchanan's Administration have been disappointed,
and wretchedly az our national affairs have been
mansged yet, when We contrast our situation with
hat of our unfortunate neighbors Of Mexico, we
have reason enough for gratitude. The civil dis
order Of which that unhappy country has been the