Year: 1859

| 0SOAOMx ANO fLONUEh.

 Correspondence of the New York Tribune.

 WASHINGTON, Jan. g, 1859.

 Among the events of special interest during the last week in Congress was the debate il the Senate on Wednesday in regard to econ I omy.

 The Governmentis ashore for want of funds i The Treasury is scooped dry, and, in the f1ashy language or the Exchange, it has to shan iI order to get on. This exposure of its condi ton is made the occasion for numerous public professions of hostility to extravaganza and waste, which can only be productive of horse laugh when contrasted with the practices of many of those who are most profuse in their professions. People talk about holding up and then rote for spending. But talking is nothing. The only true tell-tale of your legis. lator is his eOtes. He may talk himself blind about his virtues, his scruples and his purposes, ! but who believes him when he votes in direct hostility to his professions

 Neither the Executive Government nor Congress, as whole, has any intention of re- l trenching the National expenditures in any direction. On the contrary, the crowd is as fierce to-day for swelling those expenditures as ever. The only hindrance is want of money The only reason the water is not let on, is be- cause of the want of head. The gates are hoisted, but the pond is dry. There never was crew of California miners waiting for the rainy season, more anxious and more eager I in watching the sky, than are the Treasury magnates in waiting the signs of the revival of business and the consequent replenishment of Uncle Sam's reservoirs.

 The only way to check the spendthrift par 1 ty is to keep them short This consideration operates to induce great degree of indiffer- ence in the minds of many members of Con- gress as to altering the present tariff and it looks now as though nothing would be done with it. The party in power will not agree upon any fiscal system which looks to the just protection of the industrial interests of the l country as it's basis end, therefore, no man who wants to sec such system established has any interest in any bungling scheme to in erase the revenue, simply to raise means to add to an already too lavish national expendi- tnre.

 Mr. Cobb is burly and keeps to work, cx- pecting and prophecying that things will all come round right. In the Spring he thinks | every thing will come right in the Fall, and in the Eall, that the Spring will right everything. Disappointed hitherto in each expectation, he still continues to derive comfort from semi annual renewal of the same hopes He is no nearer their fruition now, from any cause now | visible, except the mere lapse of time, than he the remunerative employment of it's labor | This it has not now in either of the three great branches of industry, Commerce. Manu- | f,of 4 Tbo these three great interests that can be effected by legislation, directly. is manufactures. A i judicious application of legislative stimulus to this branch of industry, would start the wheels of business and quicken the enterprise and ac- tivities of the whole country. But this stim- ulus it will not get under the present Admin istration, or from the party in power This source of improvement will, therefore, remain dry for the present. As to commerce, this is, to great extent, the handmaid and depend ent of the manufacturing interests in the pres ent age of the world. Beside this, it is labor ing under heavy load of it's own creating. There is great glut of shipping all over the world, and time is requisite to relieve it. Az riculture alone remains to quicken the demand for labor, and enhance its price. But the price of agricultural products, of breadstuffs especially, affords DO encouragement or prom 1 iSe.

 l The business prospects, of the country are thus under cloud, and there they are likely to remain till we have change of the Admin istration, and get one that will not hesitate to stimulate the national industry by "judcious tariff" There is no other way out of our ex. istirg lethargy, except by some accidental cir constance. A short crop in Europe might answer the purpose. But nothing short ol some form of war, pestilence or famine, in some quarter of the globe, can set our bus

 ness affairs going with any kind of activity, il the absence of all judicious legislation having that end in view.

 I MT. Cobb, therefore, and the plunderers

 generally, may as we'll be. patient. The thing most likely to happen is the fighting of the next Presidential election on the hard times

 The Republican party will have, in the next canvass, the aid of sound national policy o

 administration to back its unconquerable prin

 ciples. The party in power, therefore, if il

 can bring neither war nor famine to it's aid may as well get ready to sing it's mume dimittis

 In fact, it is wholly unreasonable to expect anything of an Administration like this, which has no untity of sentiment upon the only pub lie question which touches the pockets of the people. The debating school exercises of Pres ident Buchanan and Secretary Cobb over the tariff-one contending for specific duties, and

 the other Justify opposing them-are amusing

 enough to mere spectators, but are childish and contemptible when viewed in the light o the urgent needs of National industry lying prostrate. It is g sorry spectacle to sec mem berS of an Administration spending theil strength in combating the views of one anoth CT upon g topic of vast National concern, ani it is much more profitable and proper to dis

 miss such wranglers than to waitf them t come to an agreement. Such is public senti : meat among thinking men in Congress. ant : such it will doubtless be found to be amons

 the people.

 l The Opposition must form party having