Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-11-25


cHAEAcTER OF THE LAST FoRsicN News
RgpULSfoN IN the RAILROAD MAMA.
APPREHENDED SCARCITY IND PANIC.
The news BY the Britannia regarded AS oi
high and melancholy importance: A dread of
scarcity, If not Of iamine--the consequent alarm
TO all classes-,he revulsion in all .spcculatons.
especially in railroad stock, which hnd reached II
rrightu height, running in the collapse thousands,
as in its progress it had made The fortunes Of
thousands-probable opening of tho ports for the
admission OF foreign grain, free OF duty--depres.
sion in the Cotton market land Tobacco will fol.
low, popular uneasiness and agitation, and dispo.
ston to universal panic
These are the startling heads of intcl ,ence
brought by the Britannia, which yesterday we
could not even aludc TO.
We regard them Of most dismal import.
We have often said, and now repeat it, that short
crops i'm England a calamity to the whole
Christian and Commercial world derangipg in.
evitably the steady march Of business, destroying
confidence and parayzing enterprise: England
is the heart of the worlds commerce., and every
commercial throe there is felt from Portugal to
China Commercially speaking. the whole world
is but a suburb of London--of the India House.
the Exchange, and Leadenhall and Downing
streets.
That the apprehension Of scarcity in, Grcat Bri.
tain will produce dangerous results there, is not to
be doubted: One year of famine would probably
shake the institutions of that Kingdom to their
foundations: t,co consecutive years of scarcity,
would lay low her artificial structure OF society,
with the mtre, the crown and the coronet.
How will this state Of things affect us in Ame-
rica' PrejudiciaLiy upon the whole Bread will
go up, and that will assist many who happen to
have u surplus; but it will ipjure many more, es.
pecially m Virginia and the Southern States, who
will have bread to buy Cotton and Tobacco will
recede. and that will prove more injurious still
Confidence and enterprise will be shaken, and
that may prove most disastrous Of all.
Let the People turn a steady front to the crisis,
and resolve TO have no panic here, and let the
country exercise a timely and rigorous econo,Dv
The New York Herald thus speculates, but we
think in many particulars, wildly and rhapsodi.
cally:
"Thc character Of the s of the mos, startling imnor
tanee-particuariy in financial and commercial point Of
New-nay even running into politics institutions. and the
progress OF society IN Europe financial in
Engsnd-no doubt France alsobrourht abou, by the
strange concurrence, the time, of short harvest
stock sPecuauons-strngen laws, and general alarm
Irish peasant well the cabinet of the Brush pre mier
Thousand already ruined by the railway reyulsion
which began the work OF change and revouiicn-and mil
Mons are threatened with starvation by the shoness Of
crops: third of the pOtatoe crup uined-rotsn-but
~ not small potatoe reyuson- is the beginning of
bic Po'atoe revolution that lead terrible consequent
ces TO the institutions and prosperity OF England and France
This exciting intelligence created deep sensation YES,
tefday afternoon, and the inquiry genoral-how will
1t aneet affairs IN this country Many persons may
press dhorent oPinons-bu IN vew the general panic
IN England will be advantage the affairs in this coun
Try, both commercially aud politically The United States
the only country from which England or Ireland can pro
cure uii supply OF food The crops the continent are
also short II the ports should be opened they
Will VAST quanutes will be exported TO prevent famine in
England and Ireland This will bring large balance of
easn 10 tne American agricuursis and merchants
The English manufactures, 10 prevent political con-
sulsion among the work people, must take n tolerab-
ly full supply OF Coton-and this political and social
necessity Will keep the price OF Cotton moderate
extent Again. the general panic IN railway stocks added
10 the dread OF famine will extend all the other elements
OF trade-conhdence will eFlp1rate-the bullion in III.
oanA Wi! be drawn Oui-and most probably for fear OF
political convulsion many capitalists will transfer their per
sons ana Their property TO the SAFE peaceful and nereous
shores OF the Uncd States This will ncrsaz, e. Gle
ments OF prosperity active sls substantial in tins
country. The banks in New vofk bsyo commenced
movement looking upward-and tho banks in the county
are rapidly following up the signal Sooner or later the
great floating mNlseA OF eniGon, in Europe
to TINS country-and the panic in stocks, food &c
which has nrc.e out ~ Engn6 l. the ginning of the
noe that VIII hoai the wealth Oi tbs westward.
SIch seems to be the only rational view which can he
iaLen Of the effects TO be produced United States
by Tie present ecmmercia panic in England. In po,i.
cal point OF view IS equally novel la The mids: of a
terrible struggle for ocd-H panic in the stock maEsetand
political coHesi that may END in the downfall the corn
laws and the probation Of the asocracy, leading 10
an internal revolution, what England do from proven
ting the United States from taking Oregonl from pur.
Chasing OF Mexico all California; Now the favorable
moment Tor our government push for boi-for Oregon
and California. England canno, a sop-wG ave her
on the hP-and we both, by feeding instead VI
fighting her."