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A great deal that has been done among us of late, doubtless remains to be undone; but we are accustomed to changes of this nature, and they do not seem to be accompanied by the same danger here as elsewhere. The people have yet to discover that the seeming throes of liberty are nothing but the breath of their masters, the demagogues; and that at the very moment when they are made to appear to have the greatest influence on public affairs, they really exercise the least. Here, in our view, is the great danger to the country--which is governed, in fact, not by its people, as is pretended, but by factions that are themselves controlled most absolutely by the machinations of the designing. A hundred thousand electors, under the present system of caucuses and conventions, are just as much wielded by command as a hundred thousand soldiers in the field; and the wire-pullers behind the scenes can as securely anticipate the obedience of their agents, as the members of the bureaux in any cabinet in Europe can look with confidence to the compliance of their subordinates. Party is the most potent despot of the times. Its very irresponsibility gives it an energy and weight that overshadows the regular action of government. And thus it is, that we hear men, in their places in the national legislature, boasting of their allegiance to its interests and mandates, instead of referring their duties to the country.

All large commercial towns are, in their nature, national in feeling. The diversity and magnitude of their interests are certain to keep them so; and, as we have already said, New York forms no exception to the rule. She belongs already more to the country than she does to the State, and every day has a tendency to increase this catholic disposition among the votaries of commerce.

That some extravagant notions, in which interest has thrown its mists before the reason of our people, exist, is, we think undeniable; and we concede that the two recently promulgated figments of the equilibrium and the rights of persons over the property and Territory of the United States have a character of feebleness and obvious delusion that would excite our wonder, did we not have so many occasions to observe and comment on the frailty of human judgment when warped by motives of this nature. To us it would seem, that the people of any particular State have just the same claim to use the ships of war, and forts, and public buildings of the United States, as they have, unpermitted by the sovereign power, to occupy any of its lands[8] . That which is the property of the public is no more the property of individuals, in law or reason, than the estate of any one man is the estate of his neighbor. Carry out the doctrine in spirit, and it would lead to general confusion, and a state of things so impracticable as to disorganize society. If the people are thus intrinsically masters and owners of all around them, why are they not the proprietors of the banks and other corporations created by themselves? They made the government, if you will, though in a very limited capacity; and they made these corporations, much more directly and unequivocally; and, admitting the truth of this copartnership principle, in which every man is so far a member of the firm that he may take his share of the assets, we cannot see that he is not equally entitled to lay his hands on all the other progeny of the popular will. In a word, the doctrine would seem to be not only weak, but absurd; and we find a difficulty in believing that any cool-headed and reflecting man can feel the necessity for refuting it.