The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1848-11-22
me Imponding Commercial Revulsion.

Mace in Europe, must necessarily produce reyolu-
tons in commerce. Trade in all its relations is so
intimately connected and interviewer with the POI
tical systems Of the day. that the slightest disturb
ance of their equilibrium produces a corresponding
remor in the funds, and in fact in all mercantile
affairs The events Of the last few months have
exemplifed this truth, and accordingly we find the
commercial classes in Europe, who are most affect
ed by revolutions and Instructions, generally ar
rayed against popular rights. But the storm which
they have so long endeavOred to avert has come,
and IFS effect must follow The consequence will
be a commercial revuIsion such as the world has
seldom witnessed This fact is perceived by the
statesmen Of England, the leading commercial ma
ton - and the London Times, with It's usual sa-
gacity, perceives that the effect of this commercial
pressure must be an extension Of popular rights in
Great Britain That paper, of Oct 18th, publishes
an article in which the subject is treated with all
the ability Characteristic of that Journal From the
tone of the article, it is plainly to be seen that the
privileged classes of England look to the future
with fear and trembling. In the great events which
are passing around them upon the theatre Of Eu-
rope, and the consequent effect upon their own
people they see the foreshadowng of their own fate
It is true that the Irish instruction is suppressed,
the threatened rebellion Of the Charsts efectually
crushed. and to all appearance the government
more secure in its triumph than ever, but however
thew NAV be able to subdue the open efforts Of their
own subjects they know that it is impossible to
avert the consequences Of arrangement in trade
The crops are short, the people are hungry, and
they must be fed. The corn which is necessary to
supply the deficiency in their own crops exists as
surplus abroad It can be had, as any other article
Coz II this he
made in the products of the industry of the country
1t is therefore evident that in order to preserve
healthy equilibrium the exports ofthe nation should
pay for its imports. But the statistics of this year,
compared with those of the last, show that the
ports have diminished &c, 5s7, 1872, while the imports
have increased in more than corresponding ratio.
The industry of the British nation is taxed to
its utmost and in fact large portion Of the popua
ton cannot find employment, although to feed them
large amount Of grain must be imported for which
they in return yield nothing, and they thus become
burden and tax upon the producers. And there
is no prospect that this state of things viii be altered
for the better. The present year will add quarter
of million non-producers to the population of the
island, and they must also be provided for, that
bad as things are now, they are likely to become
much worse, before they improve. The picture is
truly melancholy one, but to show that we do
not exaggerate, we quote the following passage from
tie article in the Times:
In other respects the winter is not setting in with the
most agreeable auspices employment with its attend
ants vagraney and crime, the increase IN the meopo
lis and the country. Local burdens becoming cradle
The pressure and closing eeondcass houses
BY scores The people can pay one rent but not two tet
it impossible in this Christian land to close oostTuct the
ount of public benevoence and would rather that ten
mpOstos should be relieved than genuine unfortunate
the present hour Il the SUMNER the winter that
ear-fo seasons OF distress and pvaton must be borne
but when much has been suffered more remains to be DONE
The English government is very sagacious-it
knows the crisis which is impending-it hears al
ready the mutterings for reputation of the national
debt, and it is already preparing to make those
concessions to the people which alone can prevent
bloody and disastrous revolution. Toryism,
however it may clamor for the conservation of old
abuses, is always ready to yield part gracefully,
| in order that the remainder may be saved The
passage of the reform bill, and the triumph of the
free trade principle are cases in point; and if the
commercial revolution which is about to take place
will result in the conce sson Of greater privileges to
the people, it will not be so bad an affair after all
That the Government is preparing for some change,
and that the privileged classes have come TO the
conclusion to adopt more liberal line of policy,
we infer from the following passage in the article
above quoted
We viii not insist what still impending-he vista
ton of terrible epidemic So far we happily distn-
gG6ed from our neghbOTs in being allowed some breath
ing hmepehaps to prepare WIN sediilon ana lns1rrec
y impressed upon the mind of the people, to be in
the still and solemn of important events the good evil
storm reach u.s. no policy but the popular policy will stand
That principle may not be Interpreted here as in France bn
whose gratitude and affection our boosted constitution VII
not long survive"