The Sun.
London, England, 1866-12-31 00:00:00

HIGH WATER AT LONDON BRIDGE.

rius DA Y.—MOM] lig, Oh. 31m.—Aftenloon,:1011. 6w.
Ti-31ounow.-31orning, 10b. 41m.—Afternoon, 1111. 14m.

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LONDON, MONDAI, DEC. 31, 1866.

It has seldom been the task of those who analyse
the events of the year to take the retrospect of one
MOTO gloomy or depressing. It has likewise con-
tained much to cause anxiety and apprehension in
many quarters; and those whose attention is never
for a long period directed to public affairs will be
astonished to-day to see the long array of misfor-
tunes and misadventures which have befallen us
during the year which expires to-day. The first
occurrence of much note of an adverse kind was
the great financial crisis in the spring ; but this has
not materially affected the general prosperity of the
country, although, as it is well known, many have
been reduced to poverty in consequence of the
calamitous event of the earlier part of the year.
The 10th of May, which witnessed .the stoppage of
OVEREND and GURNEY'S establishment, will long
be remembered by all concerned, either directly or
indirectly, in its affairs ; while the :effect produced
on the outer circles of the community which were
connected with it was indeed tremendous. The
shock to credit was such that its equal has not
been experienced by any one previous failure
Serious risks.were ruu by many join t-stoQk banks

in consequence of the agitation that arose, and the
Government was obliged to come to the rescue, and
as in isolated cases before to outhouse the Bank of
England to go beyond its usual limits. Additional
distress and anxiety were caused by the financial
disturbances which occurred in the affairs of the
London, Chatham, and Dover Railway. It ife to be
trusted that profit will be derived from the hard
lessons which this last year has taught, and
that over-speculation will be greatly dimi-
nished and less risks be willingly incurred by
those whose influence on commercial affairs
is great and important. In all probability
next year will find things in a far more prosperous
condition, but not the less will it behove those most
directly engaged in affairs of this nature to seek to
infuse a more straightforward spirit into the com-
mercial world, and thus obviate the chance of a re-
currence of those evils which have cast so gloomy
a shade over the year 1866, and made it take rank
in the page of history with those periods of distress
and disaster which ever and =on afflict humanity,
and will tell against the course of a nation's progress
and prosperity. A very serious evil which
now threatens us is the present state of
the Trades' Unions. The effects produced by
their combinations have far exceded the expecta-
tions of many, and important interests are now in-
volved in their manoeuvres. While the operatives
are now clamouring for a rise in wages, and fritter-
ing away the resources of native industry, their
employers, or their would-be employers, are rapidly
supplying their deficiencies from foreign parts, and
if this sort of thing continues much longer the con-
sequence in this country will be serious. The out-
rage which was lately committed at Sheffield was
the cause of much just indignation ; but,
unfortunately, it only displayed in stronger
colours the very mischievous doctrines which
are held by those who abet these demon-
strations. For the credit as well as for the gain of
English workmen, we hope that a change for the
better will take place in this state of things, and
that the bitterness of spirit which so much interferes
with the prosperity of both sides will give place to
a fairer end much more just appreciation of the
rights of labour and also of the claims of the em-
ployed. Mr. BRIGHT, never a safe guide, and lat-
terly becoming more dangerous in his tendencies,
has thought it advisable to turn the discon-
tent of these trade unionists to his own
purposes of political agitation ; but he had better
take heed to his ways, as he may push things fur-
ther than he at present anticipates or desires. The
change of Government which has taken place dur-
ing this eventful year has increased Mr. BRIGHT'S
usual excitement and indignation to a great degree ;
and in some of his recent speeches he has surpassed
himself in fury and bitterness. Lord DERBY has
taken office under more difficult circumstances than
he has encountered on the previous occasions
when the confidence of her MAJESTY was reposed
in him, but still we see no reason why he should not
succeed in retaining power and winning the confi-
dence of the country. To attain this end it will be
requisite that they should exhibit a willingness to
adapt their measures to the requirements of the age,
and it will also be needful that their political oppo-
nents should treat them with fairness. If the ad-
vice of Mr. BRIGHT and his friends be taken, and a
Conservative Government is again driven by corn-
Linations and coalitions from office, it will not be
to the credit of the Liberal party, whose own divi-
sions have long been the theme of inquiry, specu-
lation, and comment. The great question of
Parliamentary Reform has too long already been
made the tool cf party tactics, and the object of
unworty rnauceuvres. It is time that the matter be
settled in a manner worthy of its magnitude, and
the fame of those politicians who are guiding the
influences of our generation.
Foreign affairs have engaged a large share of
public attention during the year near past, and in
whichever direction we turn we find enough, and
more tham enough, to give rise to thought and
awaken anxiety for the future.
Looking across the Atlantic we find that the
year 1866 has been an eventful one. The Civil
War was over with 1865, and it remained for the
succeeding year to consolidate and pacify the country.
When first the Confederacy was put down by force
of arms, many people both in this country and
America believed that the Southern States would
still resist the Federal authority ; and, if unable to
continue an open opposition, would still be the
scene of disaffection and secret intrigues against the
Washington Government. So far from this being
the case, the Confederates, influenced no doubt by
the example of General LEE and their other
leaders, civil and military, have submitted with
a good grace to the inevitable, and have shown no
desire for a fresh outbreak, and would no doubt
by this time have become reconciled to the Federal
Government had it not been for the conduct of the
Federals themselves. After having loudly main-
tained during four years of costly and disastrous
warfare that their primary object was to secure the
Union, the Radical party in the Northern States
are now equally loud in declaring that the whole
South is out of the Union, and must not be allowed
to re-enter it. The year 1866 has been the source
of a continual struggle between the PRESIDENT, as
the representative of a constitutional policy, and
despotic
the Congress or rather the Radicals, se the repre-
sentatives of a violent, vindictive, and
course. During the first year of his Presidency
Mr. JOHNSON was quiescent, he remained watch-
ing the course of events and taking little part with
either side. In 1816, however, he came boldly
forward and took up the gage which the enemies of
the South had flung down, and advocates the
right of the Southern States to representation in
the National Congress, and to self-government
after the ancient fashion of all American States.
Mr. JOHNSON had constitutional doctrine and com-
mon sense on his side. If it was worth while for
the Northern States to wage a tremendous war
for the sake of retaining the South, it is surely worth
while to make some sacrifice of angry and vindic-
tive feeling to bring the whole country into har-
mony, restore confidence to trade and commerce,
and establish civil order and individual freedom.
The PRESIDENT, in pursuance of these objects, ob-
tained from the Southern States their ratification of
the Constitutional Amendment of secessioual doc-
trines, allowed them to elect their State Govern-
ments, and was prepared to admit their representa-
tives to the Congress. This the Radicals, headed
by THADDEUS STEVENS and WENDELL PHILLIPS,
refused to do, while Mr. SU3INER and a
few others were clamorous for giving the
millions of ignorant and excited blacks
immediate equality with the Americans themselves.
The Radical party supported the Freedman's
Bureau with all their strength, but the PRESIDENT,
after showing its mischievous effects on the negroes
themselves, overthrew the effort to continue it inde-
finitely by his veto. But another bill of a similar
character was carried in defiance of a second exer-
cise of the veto, and the struggle between the PRE-
SIDENT and the Radicals was at its height when the
session closed. The new elections gave a still
greater stimulus to the antagonism, and the
electioneering campaign was conducted with equa
vehemence :and want of temper on both sides.
The FBEsll;l2ife; tour wais behead by many

to haw 3 damaged his cause ; but if intemperance of
langur age was a drawback to his success, it might
have equally affected his adversaries. At any rate
the 'Congress reassembled with the Radicals in a
decided majority, and the PRESIDENT comparatively
powerless. He still maintains an undaunted front
as the champion of those constitutional doctrines
which the Radicals are trampling under foot, and is
biding his time until the tumult of passion has died
out, and moderate counsels:may once more be heard.
One great danger of America at present is that the
Radicals may thoroughly disgust the South, and at
the same time embroil the country with a foreign
Power, so that the enemy will have a sure ally
in the disaffected population of the ex-Confede-
racy. Another peril visible in the distance is that
the Radicals may provoke another revolution in
the South, and consequent civil war, which may
end in the assumption of power by a military
dictator, or the disruption of the United States
ißto three great countries—North, South, and
West. To this complexion America will probably
come at last, but the crisis may be avoided for the
time if the Radicals will listen to reason. England
has cause to be indebted to President JOHNSON.
When he assumed power there was great irritation
in the United States against this country, which
he has succeeded in pacifying, while in regard to the
Fenian raids he rendered Canada most substantial
service to the damage of his own political interests.
The Irish vote is powerful in America, and it is
a great honour to the PRESIDENT that, in defiance of
the coming elections, he loyally followed the legal
and statesmanlike course. Fenianism, though still
involving mischief in Ireland, has, we may hope,
well nigh spent itself, and all true Englishmen must
be anxious to aid the sister country to regain that
prosperity and content which will preserve her
people from such dangerous influences. The PRE-
SIDENT has hitherto succeeded in avoiding an
open difference with France, though the
year has been an eventful one in Mexico.
MAximlmAN's empire is for the present at
an end, though whether it can be restored
by the efforts of his partisans is as yet uncertain.
There are two, if not more, rival Presidents of the
Mexican Republic, and the attempts of the United
States to restore order amid the chaos have been as
yet ineffectuel.

The ties of friendshinp berween England and
America have happily been strengthened during the
year by the great scientific triumph of 1866—the
completion of the Atlantic Telegraph. This great
achievement, doubly memorable from former failures,
is already familiar to us, but looked at in the ab-
stract it is of itself sufficient to make 1866 remark-
able, being the climax of the triumphs of intellect
and industry over space and time.

The events which have taken place in Germany
during this year will make it for ever memorable
in Continental history. The affairs of Prussia have
long been the theme of much comment among poli-
ticians ; but few expected that the ambitious pro-
jects of Count BISMARCK would have met with the
success which they have gained. No doubt great
skill was displayed by the Prussian authorities; but
many other causes besides the foresight of the Go-
vernment and the admirable provisions of the army
contributed to the results of the campaign. The policy
of Austria was bad in the extreme, and it is almost
impossible to reconcile the cause of provocation
towards Prussia which distinguished her before the
war actually broke out, with the utter want of pre-
paration displayed when the time for exertion came.
The victories which Prussia gained by the war
were taken every possible advantage of by that de-
signing Power, as might have been expected from
her previous policy, but the future alone can show
whether the States of Germany will derive the bene-
fits, which some expect that they m ill, from the great
changes which have taken place. So long as every-
thing is monopolised by the Berlin Government,
in the way in which it has been, we see no just
cause to expect that real progress can be made, or
any reasonable ground for hoping that a lasting
settlement has been effected. The French have
naturally been much displeased at the turn affairs
have taken, and we do not anticipate that they will
long remain quiescent if the tactics of Count BB-
MARCK proceed in the same direction that they
now point at, that of making Prussia a great mili-
tary Power, and increasing her efficiency, so that
she may be a most formidable nation, either for
peace or war.

It is more satisfactory to turn to Italy, which
will indeed have cause to remember the year 1866
as one of rejoicing and one that calls for thankful-
ness. The Emperor NAPOLEON has there seen one
of his cherished dreams realised, and Italy has much
to thank him for. Indeed the fortunate chances
which have conspired to create a free and united
Italy are the most gracious subjects for reflection in
scanning the events of the past year.

Spanish politics are•in a most unpromising con-
dition, and the Eastern question has given cause
for discussion, and seems likely to provoke
more misunderstanding. Compared with the other
Powers of Europe Russia has been comparatively
quiet, but there have been indications lately given
of her influence in certain disturbances that have
taken place in the East. Altogether the condition
of Europe is not reassuring, and we should not
wonder if the year 1867 witnessed the renewal of
the war which was so short but sanguinary in this
one that has passed. A want of respect for the ob-
servance of treaties, and a disposition to take mean
advantage of opportunities, have been so constantly
shown by the Prussian Government that the tone
of political morality has been greatly affected, and
it will ba a long time before the pernicious
effects of such evil influences will be done away
with. Some of the worst features of bygone days
of oppression and misrule have been revived in the
conduct and the political course pursued by Count
BISMARCK, and only too readily endorsed by the
people of Prussia.

takingat a
uralfilynasltrugleakneweiatht theth eventsegreat onfutmhibseyrear
we of
milsfnaorretunnes that have taken place. The Cattle
Plague bad commenced beforo this year, but its
effects have been greatly felt during these months ;
the cholera has been a visitant to these
shores, and for two months its ravages
were very great. We hope that due care will be
taken to prevent the recurrence of this fearful evil
by improving the condition of the water supply in
general, and especially in particular places. In
India we have also witnessed a disastrous famine,
which has been productive of great misery. The
great fire at Quebec was also a notable occurrence,
even in such a list of catastrophes as we have this
day to chronicle ; and, indeed, whichever way we
look we see the same sad indication visible. It is
the old, old story of suffering, losses, and disaster
which appears to have been renewed in every pos-
sible manner.

The year has also been fruitful in disasters of
other kinds. The atmosphere has been strangely
disturbed all over the globe, and the Bahamas have
been visited by a cyclone of almost unparalleled
violence. In fact, so rapid has been the succession
of disasters, at home and abroad, that our sympa-
thies have been constantly evoked on behalf of
sufferers from some special calamity. The very
first months of the year opened with storms of such