The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-22

millions of five per cent Unaed States stock.
the barometer OF our national lite, and We shall
know whether it stands, in the midst Of the pre-.
sent political revolution, at change, stormy, or
set fair.
There is something sublime in the spectacle
of the federal government coming unhestating
ly forward at the present moment, when an in
tense political excitement is raging through the
country, in which fanatics in the North, fire.
eaters in the South, and denagogues every
where, are proclaiming theories which, if car
ried out, would cause an immediate collision
between the federal and the State authorities
and involve the confederation In civil war and
ruin. There is something sublime, we repeat,
in the spectacle of the federal government sp
pealing at such a moment to the most sens-
tive Of all the classes Of society-the capital
ists-for an unequivecal testimony of their
confidence and faith in the future of the
country. There is in the act seeming anomaly,
when viewed in connec ton with the fears which
many prudent and sagacio1s men among us en-
terrain of the results of the present rage of ia.
natcism, and with the forebodings of inevitable
disunion, which foreign statesmen and philoso-
piers admit This seeming anomaly will be in
creased when it shall be found that the pro
posed loan has found abund44. takers among
ourselves, and at premium, too, showing that
"set fair is the range of the true barometer OF
our political existence.
The explanation of this app aren't contradic-
ton, is simple and should be instructive That
which constitutes the national life of the coun-
try is something far deeper and more abiding in
the popular heart than the corruption Of public
men, the teachings of demagogues, or the
rawlings of fanatical advocates Of any one
idea, whether in the North or South. 1t
cannot be affected by the pilferings OF
place hunters and Off ,e holders, as is evident
from the antecedents of our own city. New
York, with municipal government I'M
equalled in corruption and rascality, has never
asked for loan on the credit of its plighted
faith without the most convincing evidences of
public reliance thereon. Its obligations have
ever commanded a premium even among its
own citizens. who are cognizant Of the constant
malpractices of its elected administrators aud
perfect confidence in the good sense and good
faith of the people, who possess the power at
any moment to cast forth the plunderers from
the public halls. There is conviction every
where that this power will be used whenever
the courses of the municipal rulers shall go
beyond the pilferings that prosperous COM
munity can endure.
So ii is with the whole country at large. Be-
meath the surface ripplings Of party passion
there is strong current of good sense and ma
tive patriotism, which constitutes a large por-
ton of our national life. This feeling is stimu-
lated to action by the electric ties of interest
which pervade the masses everywhere. Poll
tics are the playthings Of the American
people nothing more. They consti
tute no real part Of our national
vitality. That exists in our common
language and literature; our common remem-
brance of the heroic deeds of our fathers our
common pride in the past glories Of our ma
tional career; our common hope in a future Of
great deeds, and, above ALL in our common love
OF Justice. which is the foundation Of self-go-
verrneat When the fre-eater Yancey spoke
some days since to a New York audience, he
vas as.onished to find that whenever be spoke
OF the sentiment Of honor and Of selfdefence
II tie right as belonging equally to the South.
be was most loudly cheered; but his astonish-
ment was increased when told that many Of the
men before him, and even Of those who cheered
him most heartily, were black republicans in
politics, and working steadily in the ranks of
that political party.
The fact is, our national existence lives in
the hearts of the people, and our capitalists
know the fact. II will at any moment over
whelm the leaders of any political party. the
advocates Of any extreme or fauatical idea,
who should strike vital blow at the nstiousli
ty in which all take pride. We cah stand much
nonsense from politicians, We can look without
alarm at the follies Of demagogues, but the
immense majority Of the people will sanction
nothing that would sap the foundations Of self
government among us, b. violating the rights
even Of minority Tie black republican
party, who are to day proelaiming ideas Ct the
most ultra kind. are already recoiling from the
dangers their prospective triumph is opening
to their view. Their theories are impossible 10
practical government, and II the divisions Of
their antagonists permit them to grasp the
federal power in November next they will
from that moment commence the process Of
their own dissolution. The national life is far
stronger than party creeds and hence the pub
lie confidence that the barometer OF our ma
tional existence will show itself to-day to range
at set fair"
NoNNArioSs FOR STATE ASSEMBLY. The
members Of the last remarkable Legisla.