From tho N. Y. Journal of rommerce.]
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AN OID FRIEND IN A NEW DREss.-At the

 late meeting flbe American Institute, the formation of an Association entitled "1'c Home League, was recommended; its object being, proteetio" to American iadpsry, and reciprocity q fhade.. Such an Associa- tion it appears has been Iorined and it's members are to meet this evening, to complete the orsaniza- ton of the New York "State League" In all the other States, likewise, it is intended that branches of 'thls truly national Association" shall be estab- lishcd.

 This we take it, is the ghost of the old Tariff Pariy which we once helped to kill, so that we thought il would never rise again. They now pre- sent themselves with u new nane-havins rendered the old one odo,,s by their msdeeds-and would be 's,lrcmcd and taken' to be very clean concern, just entering upon a career ol usefulness for the good of tie country. And lest this -hange of name should nat fully rotect them from the odor of sectionaliiy which attached to them when they left the earth at the close of their iorne: pilgrimage, they have put forward a new aim and object, in connection with the s'pruterlioiu ol Anieriran mdustry, via. REcIPRo- cirY OF COMMERCE. With this they doubtless ex- pect 10 gull the merchants. All hook and no bait would be too bare 10 catch sensible men-ind so, while ailsil,g blow at the ,las Of commerce, they talk of commercial reciprocity. When they had more influence in Congress than they are likely to have again, they showed what kind oi reciprocity of com merce tles wanted, by raising the duty on numerous articles to the point of actual prohibition.

 We regret the formation of the "llomc League, 

 nimnsiies will be revived and it willbecome sary to put down the hunbug once more in the most eilectual How can the ariiiitcs hope to sue ceed in such contestl Do they not know that the whole South, and more than haf the North and West, are against thcml By putting themselves forward as distinct party, clan, they will ar. ay against them and their object overwhelming amount of opposi- ton, whereas, fthey would leave the subject to he disposed of by Congress- who have or ought to have in view all the interests of the country and all classes of its citizens, something could be secured in quiet way for the benefit of home manuiactures-enougla at least to kill the Land Distribution bil which is gen orally odious to the South, while it warmly ap- proved by the tariff men, because it renders higher duties necessary. We believe there is disposition on the part of majority of the free trade men,

 treat the subject with great liberality far as they can do it without admitting the principle of "protcc- tion," (i. e. taxing one man, in order make anoth- CTS business pro6labe.) But the more this claim is pressed, the it will be resisted; and the result of the contest cannot be doubtful. If the Home League wish to promote the interest of American manufactures, and favorable scale. of duties in their behalf, the best thing they do is to dis solve their association without loss of time. Another tariff agitation will benefit nobody, and least of all inc manufacturers.