The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-16


versal reyulsior. With the rebellion of Douglas
and the other factious movements of selfish
aod unscrupulous leaders and cliques of the
party at the last session Of Congress to bleak
down an administration which they could not
control to their own selfish ends we predicted
another 'smash up Of the party, without Sc
rious damage to the administration and the fal-
fmeut has been furnished in our late Noctaera
elections for the next Congress-.
We now take the ground that while the party
has ceased to be indispensable to the success of
the administration there is no hope for the party
in 1860, except upon some popular outside
candidate, uncontaminated by the dirty work
of the aspiring leaders and reckless demagogues
Of the party in Congress of the last two years
We adhere to the idea that the party is Smashed
up" into sections and factions, and cliques and
coteries among whom there can be no agree
ment upon the candidate of any of these cliques,
and that the prospect for democratic scrub
race in 1860 is much stronger than any prospect
of democratic harmony.
Similar causes of disruption and divisions
have produced the same effects among the ele-
ments of the opposition; and thus, in the same
way, they are threatened with the doubtful game
of two or three scrub candidates. Thus, on both
sides, the tendencies of the party demoralizations
Of the day are towards scrub race, which will
throw the next Presidential election into Con-
gress, where the struggle may precipitate us
headlong into the gulf of disunion. We wish to
avoid this danger-we desire a fair and square
election upon the practical questions of govern
mental policy-and thus we appeal to the
people to take the matter into their own
hands. The opposition hold popular majority
throughout the Union Of three or four hundred
thousand votes. This majority was thrown away
in 1856 upon sectional sectarian and personal
antipathies. 1t can only be consolidated in 1860
upon some such staunch and universally accept
able national and conservative man as General
Scott. We invite our contemporaries on all sides
to thorough discussion of the above subject in
all its bearings Our party politicians and ma
nagers are steering the ship among dangerous
rocks and shoals, and the people must come to
the rescue, Of ship, passengers and cargo will be-
come the prey of the wreckers.
The Balance Of Trade--Fallacies In Finance.
Among the anomalous effects of the revul-
sion Of 1857 we find the resuscitation of GER
tain ancient fallacies in finance, one of the most
popular Of which is the theory Of favorable or
an adverse balance Of trade, ascertainable to a
fraction by fnanciers, through certain statistical
tables, made up from official data. These tables
in some instances are of use, because they ex-
hbit the relative proportions Of the many streams
of commerce; but they are Of no value whatever
as an evidence that any particular trade is ia
vorable or adverse to the country The following
table of our export and import trade during
the commercial year of 1851, which has
been prepared by the Secretary of the
Treasury, with several others, for the use of Con-
gress, is interesting, because it shows at glance
the aggregates of our commerce with the other
nations of the world
STATEMENT OF EXPORTS AND IMPORTS THE YEAR 1857
SHOWING THE NATIONS WHOSE IN FAVOR OF THE
UNITED STATES, AND THOSE WHOM THE TRADE Is AID.
VERSE % UNITED sTATEs