The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-10


What are our prospects for the winteri The
excitement of this most eventful year and the
sense of immediate dangers have hitherto alb
SCRIBE the public minG, and scarcely permitted a
was an axiom, admitted by these who most de.
plored it, that Englishmen could not be induced
to take an interest In foreign affairs. That was
only last year witty contemporary, after
added, that the fortunes thrown away by the daily
press on ITS foreign correspondence, were ex-
pressly for TIE benefit of that class The tables
are strangely turned. On the stage OF Europe we
witness the performance OF a drama more tremen-
dous, and even more wild, than even melodra-
matist eyer conceived. Capitals, empires, races
are the personages OF the wonderful plot. The
most surprising iHcldt nts rapidly succeed one
another, and if we think we have beheld the ca
astrophe, il only serves to fix our expectations on
something still more terrible and universal. So
ages that it Is already impossible to recognize
them. As for ourselves, with avalanches thun-
dering past our heads, we are only hoping that our
turn may not come next. Hence the singular
abeyance OF domestic and economical specula.
lions. However, we must revert to them, for
therein consists our best human security against
the stolms OF revolution
The first condition OF peace and comfort is a
very vulgar one. Without plenty of food no ma
ton will be either happy or contented. Plenty
within ones own borders, where 1t Is possible, Is
perhaps the most preferable lot. But 1t Is not
always possible. and, possible or not, is not the
year, owing to the partial failure OF the potato
crop, and the very moderate crop OF wheat,
shal have 10 import rather largely. As we are I'M
der that necessity, 1t Is satisfactory TO know that
SO tar our demands can be easily met. At the
present moment the foreign supplies have palpa-
BILE effect IN beating down the markets, and keep
ing wheat ut about 50s. a quarteI-a price
which may be called the average OF the last
year and half and one with which all
parties may well be satisfied. There are, indeed,
contingencies IN the wind that may check that
supply; but war, calamity, and dstrust have not yet
closed against US the corn.growing potts, or OBJ
structed the high way of the sea nor is that ex.
pected to occur very soon. 1t would seem as If
the political state OF the Continent had hitherto
operated rather in Fastening than retardlng the
expectation of corn. America, which has hith-
ertO reserved her supplies, is said to be preparing
on a large scale; but nothing of the fabulous pro-
portions predicted three years since Is looked tor.
We have, then, the consolation OF knowing that
there is food somewhere, and that it is accessible.
This is the next best thing 10 suficlency home.
But that corn must be paid for, and can only be
paid for eventually and substantially by exports.
TINS Dlings us to point where we wish we could
see our way plainly before US, for matters are
ripening into difficulty. The exports for thus
year present serious deficiency, compared with
the last, and though matters are mending, the de-
crease on SIX months amounts to 95,5S7, 1872.
| meanwhile ::he imports keep up. The normal and
shfe state OF commerce is a balance between i'm
pors and exports the one being, in fact, the price
/ OF the other. When imports are in excess We are
running INTO debt; when exports, we are mourning
great risks. AT the present moment, the balance
has been lost. We are getting deep into our neigh
bois' books. Payday must come in one form or
another. nd the question arises whether it will be
day of pressure and disaster
OF course, in recognizing this discrepancy, we
expect 70 draw down on us the triumphant rebukes
of those who always told us'' we should have to
pay Tor foreign corn with gold Certainly, they did
always tell us that, and never folly more e.
quently repeated. There Is no doubt, and it never
Il fnra tkofrv tlav
Tor of every great crisis, commercial or political.
Revolution and war are always necessltOus. They
must and will have money. France, paying forty
five per cent, IN addition to Its heavy direct taxes
for the maintenance and paclfication of Paris,
wants money, and, tor the present, has not much
10 spare for superfuous comforts. ALI over Europe
We hear of empty exchequeIs, besides armies, par
ties, and "natlonalues,' which never had an ex-
chequer at all, and are consequently Obliged to
open shop upon credit. In this rude and unsettled
state OF affairs, even ii the consumption of British
cottons, crockeIy, hardware, cutlery, silks, and
woollens, had not considerably diminished, the
continental tradesmen, nevertheless. put off to the
| latest day the necessary replacement of their
| stocks. Commerce, therefore, has been thrown
quite cut ct gear, and we are IN an abnormal state.
We have balance to pay, and must pay, In gold.
England, however, happily for herself, does not
produce. gold, and only keeps enough for the pur-
poses OF commerce, including the very purpose in
questionable settlement of International balances
We shall not go on regularly paying for corn In
gold-though indeed, it would be no such fooli h
bargain to give what we cannot eat for that which
we can. When we have paid our nelghbors In
money, and their immediate want Is relieved, they
will soon wish to spend that worthless commodity.
They will come back to cur manufacturers. The
returns OF the Board of Trude fully establish two
loints-frst, that the preset decrease OF exports
Is consequent the French EVOLUTION secondly,
| that it is not likely to last. Our exports were
steadily increasing till the fatal 2ith, and the de-
crease, which In the summer was enormous, Is
now ess and less every month.
| In tbo
| with the most agreeable auspices Non employ
ment, with itr attendants, vagrancy and CRIME, is
on the increase in the metropolis, and many parts
hs country be LSsa burdens S Are ss
closing second-class houses by scores. People
| can pay one rent, but not two. Yet it Is impos-
sble this christian land to close obstruct the
| f0unt OF public benovolence; and we would rather
that ten impostors should be relieved than that
| one genuine unfortunate should be sent away.
The question Is what to do beyond the present
| hour 1T is the summer, not the winter, that we
tear tor seasons OF distress and prlvation must
| be borne; but when much has been suffered, more
| remains to be done. The next twelvemonth will
add quarter OF million to the crowded and ill
emf loyed population of this island, with war and
revolution around us, and falling exchequer at
home. We Will not insist on what Is still lmpend-
lng-the visitation OF a terrible epidemic So far
we are happily distinguished from our neighbors,
IN being allowed some breathing hme-perhaps to
prepare. With sedltion and instruction put
down, and with the lesson Of continental ruin
deeply impresse upon the mind of the people, we
seem 10 be in the still and solemn eve of impor-
tant events, the good or evil of which will depend
on our own preparations. should the storm reach
us no policy, but the popular policy will stand.
That principle may not be interpreted here as In
France, but It must at least mean the well. being
OF The people, without whose gratitude and affec.
ton our boosted constitution will not long survive
Police Intelligence.
Case 81 Dr. CAeetham = We published, short time
since, quite long and curious between Francis