From the Banner of the Constitution.
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 From the Banner of the Constitution.

 The readers of this paper will have observ- ed, of late, a waverng of our faith in the po- tency eff argument as an efficient means ot rescuing the country from the fate that awaits her in the event of the American Systems being fastened upon us as the settled policy of the country. So long as we felt strong con fidence ill the issue of the struggle, we spoke in language calculated to cheer the dropping spirits of our Southern friends-and as soon as we began to doubt, felt ourselves bound to say so The truth is, that the question of the Tasiff and of Internal Improvements, which are sheer questions of political science and constitutional law, that it would seem to be altogether vain to expect a decision upon them on any other than party grounds. The late dinners given, in this commercial city to MT Webster the leader of the American System party in the Senate, and to Mir Bur gess, the leader oi the same party in the House of Representatives, have fully convinc- ed us that great portion of the merchants of New York are prepared to sacrifice all their predilectGns and c}ngictons in favor oi Free Trade, upon the altar of party We have too much reason to fear the same result at Bost6@e. A friend, in late letter, says "Here the whole Free Trade party are going over to Clay, and are well rewarded, by di- ydends of ten, twenty, and thirty per centum. More than five millions of dollars arc now in vested in the new factories, within sixty miles of Boston, and twenty millions more will fol- low the next two years. Some of the stock is twenty-five or thirty, and the corporation iifty-hve per centum premium.

 Now, if the party adverse to Mir Clay were in decided opposition to the American Sys- tenn, there would be grcuud for indulgng the strongest hopes. This, however, is uni0rtu- nately not the case In some States the Jack son party is as clamoroas in favor of the Ia riff and Internal Improvements, as their op- ponets, and there is net, it appears to us, the slightest chance, under present appearances, of there being majority in Congress, at the next session, hostile to s'the System," altho' there may possibly be majority opposed to some of it's measures. What, then, is to be doneo Shall we give up the ship, and strike cur colors in despair If ever awakening the people north Of the Potomac to the true sense of their own iterests, and of the demands of justice and patriotism? Gcd forbid that the cup of patience should be dashed from our lips until it be drained to the last dregs. In Government originally founded upon concil- ation and compromise, much must be borne before we abandon hope altogether What said Mir Jefferson on this subject? "Are we, then, to stand to our arms$ Noi that must be the last resource--nGt to be thought of un- til much longer and greater suiferings. If eve " infraction of a compact of so many parties is to be resisted at once as dissolution of it, none Can ever be formed which would last one year. We must have patience, then, with our brethren, while under delusion.- Give them time fer reflection and experience of consequences; keep ourselves in situation to profit by the chapter of accidents, and se- parate from our companions only when the sole alternatives left are the dissolution of cur union with them, or submission to a Govern ment without Limitation of powers. D

 We are aware th6t this wholesome advice of Mir Jefferson was gwen so lcng ago as the 26th December, lR25 about six months be- fore his death, andthat many persons believe that the crisis designated by him has already arrived. 4 majority ofthe Southern people, however, does nol so believe They will wait yet longer-but, boccrding to the indications we have seen, we are of opinion, that, should the next session If Congress close without material modification of the restrictive policy, all hopes of an amicable adjustment of the question vii, be ahandaned There has been no time, since the Presidency of MT Jefferson, we think, at which, in the Southern States, the droctrine Of 'Prmcttica first-Mcn nezt,' has more extensively prevailed; and should the Jackson party in Congress, representing the Middle and Western States, yield nothing oftheir devotion to the American System, in accommodation to the State Rights party of the South, which almost to man supports the present Administration, we should dnot be surprised to sec withdrawal from the cleo toral field, in 1882, of great portion of that party, upon the ground that prefessed politi- cal friends were as hostile to their interests as political foes.

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