The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-27


British manufactures will find their way to
the best market with the regula ity Of m cia-
nical law" The Times Of the 9th says:-"The
retrograde commercial policy of the North will
iiveit uropean trade from Boston aud New
York TO Charleston and New Orles u.s." and
'the warmest friends of the Union cannot ex
pect our merchants to celebrate its obsequies
by selfimmolation.
Under the new tariff 1t IL evident that the
revenue will not pay the cost of collection, and
tnere viii be no money in the Treasury to meet
the int, est of loans. Further loans will be
contracted with the same result. A war poll
cy, or sneakrg, cowardly kind Of coercion
which will result in war, or ado-nothing policy
under which the revolution will take its course,
will brig down United States securities to a
figure ruinous to the purchasers. 1t is only
the prospect Of speedy reconciliation, or an
amicable settlement of the relations be-
tween the North and the South by
the permanent establishment of two distinct
COME deracies, including an equitable division
of the territory and other public property, q
just apportionment of the public debt, and
treaties of commerce and amity, that will in
duce capitalists to risk their money in loans to
. government 80 shaky and so incompetent
Clouds Of civil war impend over our heads, and
if they are not removed by manly, ouspoken
declarations Of peace, free from guile and am-
biguity, how can the administration expect
capitalists to invest in federal securities which
are likely to prove their ruin? And if they
did lend the government money under
such circumstances, would they not be par
ticipes crinainis in its atrocious designs and be
aiding and assisting in the complete destruc-
ton of every interest of the country? The only
safety is to bring the administration to dead
lock, and thus compel it to make peace with the
Confederate States.
Mr.. Howe of Wisconsin, in the United States
Senate, on Monday last, in a violent war speech,
said no State or section could complain that
injustice had been done them in anything or
their rights denied. He thought even if the
people of the United States should decide that
the citizens of Kentucky or North Carolina
or any other State should be prohibited from
| l
be DO ground for resistance or complaint. 1t
is evident Mr.. Hewe regards the Southern peo-
ole as very unreasonable. His ideas on the
subject remind us of the story of drummer,
who being called upon to administer punishment
to friend tied to the halberts, was requested
by him to fog high-he did; to fog low-he
did; to fog in the middle-he did, high, low
down the middle, and up again, but all in vain;
the victim of the lash continued his complaints
with the most provoking pertinacity, until the
drummer, exhausted and angry, flung down
his scourge, exclaiming, "The devil burn you;
there's no pleasing you, fog where one will"
Thus it is the anti-slavery North has logged the
South high, low, here, there and everywhere,
and then wonders its friend is not pleased.
For thirty years. the abolition party have
waged a moral war against the institutions of
the Southern States, avowedly with
view to their destruction. In the late
election the republicans formed coalition
with that party, and received its support on
the condition that If successful they should &C
Lincoln expressed it in one of his speeches.
This was to be done either by bringing about
a civil war, or by an ingenious plan "consti-
tutionally to ruin the constitution" as Vergni-
aud, the leader of the Girondists, described
the scheme of the enemies of true liberty at the
time of the French revolution. The success of
therepublican party, under these circumstances,
has alarmed the whole country, has driven
seven States out of the Union, has destroyed
public confidence, paralyzed the operations of
commerce, cut off the revenue, made the gov
eminent bankrupt, and placed it in the abject
position of begging funds to keep it little
while longer on its feet. But it is con its last
legs" If it do not speedily undo the mischief
which its revolutionary party has inflicted on
the country. The shrewd business men Of
Wall street are not such simpletons as TO lend
money in the dark. Mr.. Lincoln and his Cabi-
net must lay bare their policy. They cannot
stand still they must either 60 forward or re-
treat Let them take either course. A do-nothing
policy is fatal to themselves and to the inter
ests of the country. If they have programme
of action, therefore, let them unfold it frankly.
Otherwise they ought not to receive dollar.
LEGISLATIVE INVASION OF MUNICIPAL RIGHrs.-
There never was period, when general up
rising of the intelligence integrity, and patri.
otism Of the people, was SO needed to save the
country from ruin. Until the popular senti-
ment can make itself heard, in condemnation
of the fanaticism which has sapped the founda-
lions of our national prosperity, there is no
probability of any change for the better, either
at Washington or in those States where repub-
licanism prevails. The leaders of the faction
in power are aware that their tenure of office,
in the Central States, must cease, whenever the
questions that agitate the Union, are fairly pre-
sented at the polls; and they, therefore, have
recourse to every trick and device, TO post.
pone the day of reckoning, which must sooner
la4aE arrixo In tho histarxr of xaalitical