30 MAY 1846, Page 2

'The United States and Mexico are fairly at war. Mexico

strikes the first blow ; crossing the Texan frontier, and inflicting on the American General something very like defeat. General Scott and reinforcements of men and treasure are to be hurried to the boundary. Of course the United States will conquer even- tually,—that is, if they manage to avoid giving European states occasion to mingle in the quarrel ; for, independently of superior determination of purpose, the United States could expend re- sources in the war, dollar for dollar, in a sanguinary game at "beggar my neighbour," and bankrupt their antagonist without sustaining any vital injury. But there may be much trouble in the process : the wolf seems likely to find that this lamb may bite. And, biting or not, the slaughter will be costly. Congress has voted ten millions of dollars, and much more will be needed : voting money is easy, collecting it is a different matter. "Base Is the slave that pays," and brother Jonathan is no "nigger": he detests paying taxes ; and so Congress must borrow. Bor- row !—of whom ? who will lend on American securities ? The credit of Mexico herself is not so low in the European markets.