12 DECEMBER 1840, Page 2

The election of General Haanisosi as President of the United

States is expected to produce an extensive change in the general policy of the Union. The measures which are most likely to engage the attention of Congress, when it reassembles, are, the adjustment of the currency, the general land-distribution bill, and the tariff. The currency question is the one that has hitherto been most keenly canvassed, and which was mainly influential in turning the election against General JACKSON. The ostensible difference hot wenn the parties of the old and the new President is, that the latter is favourable to a national bank, the other hostile to it. But in addition to this, Jacasors's party fear that the institution of a national bank may throw more power into the hands of the Central Government than the Constitution has given it, and render it at the same time more accessible to the influence of property ; while the partisans of a national bank, entertaining the same views of the tendency of such an institution, seek through its means to attain greater influence for the moneyed aristocracy. It is the struggle of the old Federalist and Democratic parties continued under the names of Bank and Anti-Bank.

In the discussions on the tariff; the example of England will lend weight to the arguments of the manufheturing states, who are desirous of heavier protecting-duties; but the Southern States, stimulated by the prospect of a rival in Texas, will strongly resist their claim.

Nowise secondary in importance to either of these great questions of general policy, is that of the distribution of the public lauds. Hitherto these lands have been at the disposal of the General Congress : Mr. CLAY proposes to divide them among the various States according to their representation in Congress. A bill fur that purpose was fbrmerly passed by the Legislature, but rejected by President JACKSON : General HARRISON, it is understood, would approve of such a measure. We fear, neither the advocates of retaining the unallotted lands for the Central Government, nor the advocates of a distribution of them among the various States, sufficiently appreciate the treasure which the Union possesses in them, or have any conception of the best mode of rendering them available. It is much to he desired that the views of M'. WAKE. mem) as to the use of unappropriated lands could be fairly sub- mitted to the statesmen of America.