The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-02-07
[FROM OUR OWN CORRESPONDENTS

WASHINGTON, Feb. s, 1852
Step by step Mr.. COBB advances, unfalteringly
and unchecked, in his opposition to the Presidents
financial policy. His last communication to the
House dssipates utterly Mr.. BUCHANAY's CLEAN OF
hope that his SECRETARY of the Treasury would
take pity on his weakness, and spare him the hui
initiation of utter defiance and irremedable defeat
The SECRETARY still insists that the President
knows nothing about the finances, aud should be
forced to submit to the rigid discipline Of an infexi
BILE guardian, in order that he NAV be saved from
plunsing the country-and more than all, the demo-
cratic party-into ruin. Really, the cool, calcuIa
ting manner In which Mr.. COBB over-rues his chief
utterly and contemptuously disregardinp his SEN
timents and defying his wishes-is magnificent.
LOUIS NAPOLEON couldn't do it better.
How will Mr.. BUCHANAN take it? is very general
query. The most consistent course for him now
would be to confess and abdicae in favor of HowEI1
COBB The issue between the PRESIDENT and his
SECRETARY is fairly made up. Neither can retreat
hair without disgrace. So far they are equal
But in another point COBB has decidedly the advan
tage; he can remain in the Cabinet, notwithstand-
ing the differences between himself and the ExEcU-
TIVE, without positive dishonor, whatever we NAV
think OF the deicacy of his position But Mr.
BUCHANAN, with the power in his own hands to
orlng the unseemly contest to an instant end, and
without the moral courage to exert it. is disgraced
by the present condition of atfairs-because he
tamely submits to be snubbed by an underling, who
detes his right to shape the policy of the Govern
ment as he deems best for the interest of the coun-
try. No one can fail to see, that in thus abnegatpg
his own authority, the PRESIDENT also violates his
official duty, and permits what he declares to be
gross public wrong, rather than face the RESPONSE
blllty OF resisting the bold strong spirit of his
mastery subordinate!
Whatever may be said of Mr.. CoBB's treasury
figures, his calculations in regard to the chances of
a contest with the PRESIDENT, have certainly pro-
we'd most accurate. He has brought the Democratic
party OF Congress up to his standard, and
thrown the Constitutional EXECUTIVE, entirely in
the back ground, without shadow of risk to him
self. The caucus proceedings of the party in each
house are In strict harmony with the SEcRErARY's
REPORT ana the PRESIDENT is turned over to the op-
position for support and consolation! 1t is diff
cult in view of this last manifesto to see how anv
harmonious action is to be preserved in behalf of
tariff revision. Possibly the subject NAV be taken
up, and the Tariff of '46 be temporarily revived:
but even that is very doubtful because the Soutb
ern Democracy fear that the subject, once before
the House, will be beyond their power to control.
as the eastern manufacturers manifest no enthusi-
asm in behalf of the tariff of 40 and the latter
Will not be satisfactory to Pennsylvania The con-
clusion is almost inevitable, that no measure eff
fecting the tariff can be passed. and that conse-
quently the House will inexibly refuse to pass any
Loan bill or other measure for the relief of the
Treasury. MIR. BUCHANAN clearly anticipates this
result, and will meekly respond to the last move of
MS SEcRErARY, by special message to Congress,
sooiding them rouudly their laziur.s and 1,-,;
Macy and threatening them with an extra session as
the consequence of their failing to administer nrac
teal rebuke to the SECRETARY whom he himself doro
not remove.
DEAN RICHMOND don't dispute nv statement
OF ms recent interview between himself and the
PRESIDENT In relation to maintaining Mr. SCYE1L
In the Collectorship. "Egad! its all true" he
says, but he thinks ought to have stated that he
didn't tell the PRESIDENT that it was best to keen
ScHELL in, until after Mr.. BUCHANAN had pledged
himself that the Collector should make all his an
pointments from the Tammany Organization. In
the face OF that pledge he could afford to be gen
erous especially in view of the mental reservation
stated in previous letter. in regard to the certain
ly destructive effect of ScHELL's administration
upon the DICKINSON party.
congress has taken no action vet upon the bill for
the suppression of Poygamy in the Territories Is
1T to be understood that the subject is one of no i'm
portance except in Presidential campaign2 Ger
tanly this is measure which ought not be difIicut
to bring up for consideration. Let us have it by all
MEANS aid get record made upon it that shall
show who are ready to maintain this disgusting
stain upon civilization. The late news from Utah
announcing the dispersion of the grand jury, from
fear OF Mormon violence presents startling evidence
that there Is no peace in Utah-that the spirit of
Mormon rebellion is rife ever, and that some new
issue must be made with that deluded and depraved
set OF fanatics, before they can be BUNDLED by the
majesty of the law. The prohibition of Polygamy-
a measure in itself imperatively demanded-will
make the needed issue and for that additional rea-
son it should not be delayed. We have now an
whether civil and ecclesiastical power is practically
to govern the territory before the forces are with
drawn. If there is shadow of sincerity in the
Congressional professions of adherence of Poly
gamy, some one will force the popular branch of
that body to direct indirect vote upon the
subject.
The bill of Hon. MILES TAYLOR, for the promotion
of the acquisition of Cuba, is much more acceptable
to the States Rights Democracy than is the SLIDgLL
Dill, because it does not, like the latter, place
a corruption fund in the hands of the ExEcU-
TIVE, but enables him-whenever the Spanish Gov
eminent shall have ratified treaty of cession-to
send the Bonds over at once, and thus finish the
transaction up att once By this arrangement, there
can be no corruption here, in connection with the
afalr-nor can our own Government become in any
way mixed up with the schemes ofunscrupulous poll
teal gamesters Under the TAYLOR BILL there is to
have to settle it among themselves; for the UNITED
STATES will be entirely passive pecuniarily at least,
until the cession has actually been made.