The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-12-26
New York, Sunday, December 30, ls47.
The News from Europe---Vts Character and
Probable Effects.

The News from EurOpe-..Us Character anu
Probable Effects.
The condition and direction of the commercial
affairs of England and other parts OF Europe, are
any thing but favorable tosthe money markets OF
the United States The continued depression Of
the prices of the great staples of this country
the continued import of the precious metals into
England-are movements tending still further to
protract the pressure in the money markets of the
United States and gradually to bring about state
of commercial affairs that may end in crisis OF
no slight magnitude. The direction of these
things in Europe is governed in great measure
by the action of the Bank of England, in connec-
ton with the policy pursued by the private bank
ers and capitalists Of London. These private
bankers and capitalists are also in constant con-
nection and correspondence with the statesmen
of the day, belonging to the governments OF
France, England, and other parts of the CONT
nent. The pressure, therefore, and the tendency
of things in Europe, may spring from two opera
ting causes. The first of these may be traced to
the speculative disposition of the great specula-
torsin London, and elsewhere, IN bullion, in corn,
in cotton, and every thing which they can buy
up or corner. The leading spectators of these
classes of commercial men are, probably, the
Rothschlds and the Barings. They possess vast
capitals, with numerous agencies IN every mar
ket in the world; but above all that, they have
control over the operations OF the Bank OF Eng
land and the bullion market of that country,
which enables them to raise or depress prices
according to a fixed mathematical rule. The
motive OF those operators is, Of course, self
interest-the making OF money; but there
are other motives, Just now, of more par
ticular character, still tending in the same di-
recton with those speculative objects. The
governments of France and England would
be willing to combine in any general movement
which would ultimately affect the government OF
the United States, and break down its operations
towards the conquest, annexation, or annihila-
ton of Mexico If the money markets of the
United States could be broken down, so as to
prevent the negotiation of further loans, requir-
ed by the United States government, it might be
expected by those statesmen who so much dis
like the growing power of the United States,
that our government would be forced to retrace
its steps, abandon its conquests, give up our po-
siton in Mexico, and leave that great field to the
action of European powers, who might do with
the mines of that country just what they pleased.
1t will be seen, therefore, that there are polit-
cal, as we'll as commercial, motives, combining
TO govern the direction of the commercial affairs
of England and OF Europe, and their action on
the commercial affairs of this country How
long these motives will last, will depend entire
ly on the pecuniary purposes of those who may
enter into these speculatlons, and on the success
of the great statesmen, in reference to the action
of the United States government. Government,
in England and France, is as much a matter of
finance and of stock exchange, as of equippng
fleets and armies-as of fighting battles, or max
ing protocols. The great capitalists and the
great statesmen of London and Paris, work
with the same cards for the same general pur-
poses but STILL from different motives-the one
party wanting to make money, and the other
wanting to create power and influence.
Tbese general facts and special characteristics
If the commercial movements of England and
France. by the last accounts, will have most
important bearing on the policy and interests OF
this country, not only in connection with the
banks of the large cities, but also with the mea-
sures of Congress and the action of the Execu-
tive. Already, several measures have been To-
troduced into the House of Representatives at
Washington, and also in the Senate, looking for
a vast increase of the military force in Mexico,
leading to great and extraordinary expenditures
of money. For the next year, it is probable that
sixty or seventy millions of dollars will be re-
oured to meet the past and coming engagements
of the government, provided we maintain our
present position in Mexico, and still continue
the war in that region. large portion OF this
must be raised by loan p robably much larger
than any that has been raised since the COM
mc,cement of the war; because, under every
aspect of the case, the diminuton in the prices
of the American staples, the strlngency OF the
Bank of England, and other causes, will tend to
diminish imports into the United States, and
probably diminish the duties arising from those
imports Ofcoursc, the deficiency must be made
up by additional loans; and accordingly the pros
pect, from the commercial affairs of the whole
world, would seem to indicate that most ex.
traordinary loan, equal to forty millions OF dol
lars, in addition 10 the revenue, will be required
by the United States government during the next
year, in order to preserve even the position we
now hold in Mexico, to say nothing of the
further operations in that republic. There is no
symptom in Congress, or in the Executive, that a
less amount will be required There is no ind-
cation from Mexico Of peace-no prospect that
leads the mind for an instant to contemplate the
termination of the war The President, Con-
gress and all the banks aud the capitalists in
the large cities, must, therefore, prepare for n
new and important crisis in the monetary affairs
of this country-a crisis and pressure, the equal
ofwhich has not been felt since the last war with
England, OF probably siaee tho revolution ITSELF
When W., therefore. leak shFoa4 On 'hs e-pi'