New little dog with Old big dog...

Question
My wife and I just got a new small breed dog (japanese chin/ mix) and we've
found out that our 2 year old Lab/mastiff mix is jealous of the 7 week old
new dog. For a very long time the lab/mastiff has never chewed up any thing
that was not his. The other day we left for a little over an hour and he chew
up all of the new dogs toys that he could get ahold of. Last night he must
have ran out of the puppies toys and decided to chew up our 8 month old  
baby toys... not even a dog toy. We still show him a lot of affection, other
than the puppies potty training.
My question is... Will this pass? What do I do to punish him for this behavior?
I need to know how to correct this problem before he gets out of hand.

Answer
You cannot punish a dog for ANYTHING, let alone anxiety driven behavior.  The only thing your dog will learn is to fear you and his stress related behavior will worsen.

Your older dog may not be socialized well to other dogs, particularly very young puppies; he appears to be very stressed and may be making a statement of rank (toward the puppy) by demonstrating that all toys are actually his.  Often, a larger breed dog will react with fear, confusion or anxiety to the presence of a small breed, whether puppy or adult.

Spend time with this dog separately from the puppy (and vice versa in order to be certain the puppy bonds to you and not ultimately your older dog); give him some time to adjust to this puppy's presence; and be comforted by the fact that the older dog is not showing aggression toward this puppy (as often happens.)  Encourage their bond by praising the older dog and giving him extra attention when he interacts with the puppy in a CALM manner (or even acknowledges the puppy or allows the puppy near him).  Be certain to greet him first, feed him first, and otherwise treat him as the higher ranking between the two.  Also, some positive reinforcement training will help boost his confidence and solidify his place in your household (in his mind.)  Your learning about dog psychology will help both your dogs and assist you in managing their relationship.  I suggest these books: "For The Love of A Dog", Patricia McConnell Ph.D., and "Think Dog", John Fisher.

Have patience; don't disrupt the bond of trust you have with your older dog.  Give him some time to adjust.