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THE hoi.Eob CAsE.-By far the most important document which has made it's appearance in lhis eosnlry Tor many years, is the decision of the Su Prerne Court of the State of New York this case The opinion uf the as delivered hy Judge Cow en is IS full, able and earnedas the great magnitude ol the case, and the importance of the principles in- yolsed in it, demanded. The opinion covers inc whole ground, reviews the case in every possible

 light thrown upon il by the laws of nations, the laws of England, of the State of New York and of the Il, States. In every point of view he judgment of the court IS against Mcleod and directly in the teeth o the positions assumed for the government of the Union by Mr. Webster. The result is that Mcleod has been remanded Niagara county to stand his trial for the marder of Durlee an American citizen, onthe soil protectd by American sovereignty. From this responsibility the violated laws of this country, the court hold that nothing could relieve the prisoner but state of public war between the two nations-that such stae of did not exist is clearly proven by

 series of illustrations and facts, which carry con victon to the mind of the reader Indeed, the argu- ments of the learned court are sustained thu oughou

 by the most full and lucid quotations from the Eng i's Dooha oi authority, ana prove uat EnBidhu ls demanding of us, what her own Sovereign has not power under the British Constitution to do, within her own realm. ' The ef9cis of this decision only be matter of snrmise. We hope the mail to-day will bring some thing to dake them painer. It is clear, that the demand q the British Government for the "immed- ate releaf" of Mcleod, so insolenlly made and ac- ccmpaniel with menace of "earful consequences has been frustrated. Will Mir. Fox demand his passports2 If so, the Nation will have to ''trm up is lamps of industry' and prepare for long but honorable struggle. The position of Mir. Webster is most hmentable. He has committed the government of the country to position, condemned as dishonor able by the most learned of the state tribunals. He

 has, is believed by least half of the nation yielded the rights and dignity of his country in sp

 rit of pusilanImy to the hectoring of the nso lent and most selfish of nations. We hope the honor of the country may be saved, at whatever personal sacrifices of Mir. Webster. If the American Govern ment succumbs to Great Britain for a moment, we know her character we'll enough to be assured, that her demands will only be aggravated by our submis- sion, Her ambition is boundess, and nothing but universal dominion w appease it. The nation that has any thing she wants, and would preserve peace with her. do it, with arinor bucled on and pre- pared for war. sf..