{"newspaper_name": "The New York herald.", "edition": "01", "page": "p2", "byline": ""}
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on our part-as II Is called by some of our contem-
poraries-we should be enabled TO beat the govern
inent again, before we quit the field finally One
good licking they all deserve, before we QUIT the
field of Waterloo, and come under the power of
magnetism hereafter.


Peace or War.


The postponement of the debate upon the que =
ton OF giving the Oregon notice, which took place
the other day in the Senate, until the 10th of Feb
ruary, has been variously interpreted in various
quarters. Some think that il is favorable symp-
tom. indicating the complete postponement of the
whole business to another year. and TO another
Congress. Some put different construction on
this thing, and would give most important mean
ing to this vote.


BY the remarks Of the Senators themselves, who
made the pestponement, 1t is very evident that this
question OF the Oregon notice is acquiring vast
and deep importance in relation to our foreign con-
nections. Mr.. Haywood, an able and discreet Sena-
tor from North Carolina, regards it as question OF
war or peace In other words, he would look upon
vote tor giving the notice, the first step taken in
series OF measures, which would lead to great
and terrible results hereafter. On the other hand
certain exclusive friends of the administration if we
are 10 believe what the Union says, look upon the
net OF giving notice as peaceful measure merely
empowering the President either to continue or to
open negotiations, backed by the whole moral force
of the country in his favor


We cannot conceive why the giving notice, or the
organization OF a territorial government in Oregon
upon the same plan which the British already oc-
oupy some portion OF that country, should be consi-
dered an offensive measure. Nor does it appear to
Us as being opposed to the rights OF Great Britain
or that she would have any cause to complain,
or that such step could be considered as a casss
6ei The union between Messrs Calhoun and
Benton in voting for the posponement to the 10th of
next month"; has also excited some attention, and
been made the subject of various interpretations
The course Of these two distinguished Senators has
been watched daily with a scrutiny, and been re-
garded with Importance, seldom exhibited The
views OF Mr.. Calhoun upon the notice question are
fully known, but whether Mr. Benton's vote for the
posponement, is to be taken as an indication of the
same views, appears doubtful. Some say that Mr..
Haywood, of N. c., is the real organ of the Presl-
dents views-that Mr.. Polk is now very much
averse to the notice and all other strong measures
and that he would be glad to see Cass, Allen k Co.,
defeated in their war movement. Perhaps yes
perhaps no.


AT all events, it is quite evident, that the Senate
viii not rush into any action on this most important
question-this first step to course of foreign
polcy-until the arrival OF the next intelligence
from England, showing what has been the reception
given to the Presidents Message, both by the Bri-
tsh and French governments, or at least by the
newspaper press of those two countries The vote
IN Congress upon this question, even the debate
itself, may depend much upon the character of the
next intelligence from Europe If the European
governments have formed resolutions TO bring on
the contest and clash between differing principles
OF government, they may, if they choose, with the
agency OF Great Britain, build a pretext for wal
upon the Oregon question, in its present intricate
and delicate position In the meantime the coun-
try and the masses are quietly reposng under this
uncertainty, and waiting the development of events


NAPOLEON IN WALL SrRKKT.-A great deal OF
noise has been created the Wall street circles re.
Gently in consequence OF the war raging there be.
tween certain classes of brok ers and one of thelr
fraternity who called the Napoleon Of the street


This Napoleon OF Wall street, by his talent, intel
ligence, and genius, has risen within the last few
years, from the capacity of mere child, to be one
of the leading brokers in the street. and has fol
some time given tone and direction TO all financial
movements. Every thing was gong on swimming
ly--all his projects were coming out right-every
thing he undertook was prospering, until the meet
ag OF the present Congress, when the unexpected
explosion took place on the Oregon question. This
with other matters, caused an alarm in the public
mind, and change in the policy of the banks that
produced panic; and up starts long array OF
rivals, combining all their efforts 10 avail themselves
of the opportunity and TO bre ak down the Napoleon
of Wall street, IN the way that the nations of
Europe did the original Napoleon of the world.
Napoleon OF Wall street, however, has rolled back
the tIde and has exhibited resources to the amount
of many millions in the contest. AT present he
trumphs, and victorious but the confederates are
still busy, and still predicting war between this
country and England; still calculating on some
happy contingency by which the panic will be con.
tInued, and the banks compelled to restrict In order
70 compass the ruin of Napoleon.


We doubt not, whether we have war or not, they
vlil he IL overwhelmed for we believe that the
battle OF Waterloo in Wall street, is postponed in.
definitely.


NAVAL PREPARArroSs-W We are glad TO see pro.
Iect introduced into the Senate for building and com
mencing steam navy. Whether we are 10 have
'ar or peace-a settlement Of the Oregon questio on
OF not-we beg, hope, and entreat that Congress
VIII pass law sppropriating five or SIX millions of
dollars, so that the country may be put In respecta
bic position OF defence. Ifpeace is to be continued
those steam vessels that may be built, would serve
as packets between America and Europe and in
ths way would pay not only their expenses, but