The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-04-19

3 rit,,a T.rn.ory-,hrss Prs.ids.ei,s. sssSsos isS zoe y geo S:S
i Ga:1sa nniss States sta,es...... iiS1Sos ii 100000
1910 600 1874, 100000
The British force hitherto used has been native troops.
with a small proportion of English, like that Of the army
which was destroyed, Of which one thousand were Eng.
lish and FIVE thousand sepoys,sr natives. This force turn
ed almost entirely on the moral influence Of B ritish sue.
cess. The late disaster has taught tn, ir enemies thatEng.
|lishfroops may be destroyed as well as others. The scales
have fallen from the eyes of the sepoys, and they dis
cover that British troops are not i~nvincihle, and they
will no longer follow their colors in blind confidence
The results to be expected and provided for. are a gene
raj insurrection and rising of all the States, backed by
the Northern tribes of warlike Tartars and supported.
by hords Of Cossacks. The Emperor and people OF China
will receive fresh courage and be stimulated to new ex-
ertions. The utmost vigor on the part Of England, pow
erful as she seems to be, is necessary to stem the rising
storm. The vengeance Of heaven is evertaking her IN
ustiee and oppression, and she must put forth her
strength at arm'slength. Hence we find her sending
large forces into India and Withdrawing one-third oil her
force from Canada. This state of things is a better guar
antee for the peace of this country than anything that
has taken place for years.
II was stated by a previous arrival, that Mr.. n Crich-
ton Wiley had been appointed agent of the American
land holders in London to procure settlement IL aP
pears, however, that that gentleman was sent over by
the holders of the bonds of the Morris Canal. only 10 at
tend to their interests, in the event of the foreclosure of
the tho Dutch loan Of $3.50, 900.
The state of affairs in this country now seems to de.
pend alone upon the restoration of the financial credit Of
the governments, state and federal. As we have before
limited, the only danger Of war, and the influence Of
those fears upon commerce, grew out Of the grasping
and encroaching policy of England. Great Britain, no
one for a moment supposes, desires war, but her desire
and intention is to obtain as much by continual encroach
ment as possible. The danger exists that her rival ma
tions may suddenly resent those en-croachmsnts; recourse
is then had to discrimination and negotiation, until awak.
ened fears are again lulled to
are then resumed. This process is now going on with
this country. We have been severely goaded on save
raj questions, and a special minister is sent to " negoti-
ate" The particular points of the mission are not
know n, but the probability now is thatthe peace between
the two countries will not be disturbed, simply because
England is not in a position to pursue her domineering
policy. The indications now are that the efforts Of the
minister will be directed to tie procurement of some re.
storation in the value of state stocks. From the Eng
lish houses the proposition Of the assumption OF state
debts, first emanated. The arrival Of the minister was
preceded by propositions put FORTY in newspapers in the
interest of the London houses, to fund the state debt in a
national stock based upon the public lands. When the
minister arrived, he was accompanied by the members Of
other large European stock houses, who proceeded with
him to Washington. At this moment secret influences
are at work in all directions, to bring about q favorable
state of public opinion in relation to the proposed scheme,
in which are interested all holders Of deprecated state
stocks, whether original subscribers, or those who have
purchased them at low rates, with a view to the proposed
scheme. So far from these people facilitating the nsgotia.
ton of the new government loan, they are prepared 10
oppose it in every possible direction. All the CONNER
cial letters which are sent to this country identify the
credit of the federal government with that OF the delin-
quent states, and endeavor thereby to produce the in.
praeeiop that IN ynOuov on itR nun occ0urt II
will be necessary for the government to adopt some mea-
sures which will retrieve those Of the states. Lord Ash.
burton is mo doubt a highly talented and fortunate maB,
and one, the weight Of whose purse has added much to
the weight of his character.
The following, from Mr.. Grants 'Random Recollec
tons Of the House Of Lords" published in 1886, on the
| occasion of the accession of. Mr.. Barring to the peer
! age, will throw some light on the general character en-.
joyed by thu gentleman at that time, and may possibly
have some Tearing upon his present position in this
country
"Lord Ashburton is as yet but imperfectly known by
his title; it will Je sometime before the public eye and
ear become SO familiar with it az they were with the
name Of Alexander Barring. He is q man of very consid.
cradle talent, and possesses excellent business habits.
Of some importance in the House of Commons. In the
| House of Lords, he does not promise to acquire the same
station. Had he been consistent as a public man, his in
Auence in the Lower House would have been vastly
greater than it ever was. But he was remarkable for
his inconsistency in more ways than one. The changes
L QlS ODlUlOub ul0 " Cit Oh TIC tb1O " II OIn 1 II !.
and on topics more strictly political, are known to every
body. But the most awkward part Of the matter was,
in the same direction as his interests. Hence the Times
used always to distinguish him from all the other mem.
bers by the speculation of the representative of his
breeches pocket"
we have submitted these views because we think they
| throw some light upon the prospective state Of our
finances. The State governments have been guity,it
is true, Of great imprudence in the contraction Of their
| loans; but they were seduced into it by the acts and in
fuence directly of the United States Bank, and more re
| m otely of those very men who are now the holders of
the stock. 1t was their acts and example which caused
money in England to be SO plenty in former years as to
start speculation, and tempt States and corporations here
to use those credits which were in a manner thrust upon
them. They are caught in the trap which they them.
selves set, and they now are preparing TO hold QUITO the
Federal Government the alternative Of identify ing itself
wish the bankrupt States, or Of losing its own ability to
borrow in the foreign market, and measurably in the
| home market; and we look upon the struggles of this in
| terest as tn at which will exert a great influence in pre-.
venting q speedy restoration Of our financial affairs.
Among other claims upon this country, is one oil a
novel character, which is, that the merchants of Eng.
| land have a claim Of G., GOO. 900 upon the Federal Gov
ernment, in consequence of the unequal operation OF the
tariff since the passage Of the Gold Bill of 1884. 1t is
| argued, that although the duty levied on English and
German goods in America is rateably the same, the for.
| ner in fact pay %, while the latter only pay 20 per cent.
This is in consequence of law passed in the year 1888
or 1891, by which it was enacted that a pound sterling
should be taken at the value Of four dollars eighty cts. the
previous value having been four dollars forty-lour cents
| Thus the value Of the pound sterling is increased 8 per
cent, which, as the duty is charged in the increased val
ue, is the same as adding per cent to every English in
voice. This calculation is made on the lowest duty, and
as the duty has in many instances ranged to so per cent,
the excess is in fact much greater than is calculated on
this basis, and from the quantity Of our exports the ex-
cess, ii is estimated, levied since the passing Of the act in
question, cannot be less than $4,000 900. The contrast
between the duties on English and German goods ship.
| ped to American is well illustrated by a calculation on
two small invoices of goods, worth together E260 los 81,