The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-17
The Anticipated European RevuIslon In
Commerce.


Commerce.
From the London Morning Chronicle. Oct: 26.1
The viclssitudes to which trade Is liable are
more extensively felt as the ramihcations OF mer-
camille intercourse spread themselves over wider
and wider area. The commerce OF the world IS
not now pent up in multitude OF lakes, each
sheltered by its isolation from the operation OF the
local disturbing causes which may from time to
time ruffle the surfaces of the rest it Is ocean,
the waters OF which are everywhere at the same
level and the ebb and flow of which leave their
tide marks on every coast. Drop In stone, and
the unduation runs oil IN widening circles, mp
ping even the land. locked pools which lndent the
remotest shores OF the vast expanse. The failure
of merchant IN New York may occasion the
bankruptcy OF others in Calcutta, Rio and Arch
angel. The King OF Denmark cannot come to
blows with his Majesty OF Prussia without taking
money out of the pockets of the shipowners OF
Sunderland and Dundee. The dishonesty and
unthrlftlness of single partner IN single COM
mercIal house may involve the ruin OF halt
dozen other houses in different regions of the
world and the revolutionary frenzy of the inha-
bitants OF one great country, whilst 1t causes their
trade to stagnate, their prosperity to wlther, and
their wealth to evaporate, extends also its blight
ing influence to other lands, where the reign of
social order continues undlsturbed, and the poll
tIcal atmosphere is uncl0uded and serene
The melancholy reflections in which New
York contemporary Is pleased to indulge, touch
ing the depression under which the trade OF the
United States is at present laboring, are but the
echo of complaints which, owing to the cause to
which we have been abiding, periodically arise
from every quarter of the commercial world.
"'It Is our intimate connection says the Neto
York Herald, sin all financial and mercan-
tile matters, with the old world, that Is Destroy
ing our prosperity, and lnhlctlng upon us evils
from which we shall not recover very soon.
Our domestic affairs have, for long time, been
in healthy condition; our productions have
wealth have been properly husbanded; but the
state of affairs IN Europe has tended more to de-
press prices for our products than anything that
has transplred within our own limits. Whatever
affects the consumption OF our products abroad de-
preciates prices tor all that we have on hand Our
products and manufactures are valued at about
g. 000, 000, 600, of which only about $l0O0000 900,
or One.twentleth part,Rls exported; and whatever
affects the value OF the portion exported, affects
the value of the twentieths reserved for
domestic consumption. We are thus at the mercy
OF foreign countries. If anything OF a political
nature ransplres abroad, calculated to unsettle
the public mind, and destroy confidence, we feel
it through its influence upon prices for our pro-
ducts. II financial revulslOn spreads over the
whole or any part of Europe, the markets for our
products are injured or destroyed, and immense
We have to bear the brunt of every POLITICAL fnan
clal, or commercial disaster, which occurs in any
and every part of the world.
"Great Britain Is connected with every country
on the face of the earth, of any commercial I'M
pOrtance; and, consequently, through that country
we are nearly as Intimately interviewer with the
commercial operations OF the world. Great Bril-
tain Is such large consumer of our staple pro-
ducts, that we are deeply interested in her pros
perlty; and it is, therefore, highly important to
us that everything tending to her progress and ad
vancement be comes settled upon sound and
healthy basis. We have long deprecated the posi-
ton we occupy relative to that country. 1t is hui
initiating and decidedly injurious our most vital
interests. With greater resources, with NOR e
elements of wealth within our limits than any
other nation in existence, We are absolutely de-
pendent upon the preservation OF peace in even the
smallest power IN Europe. We are rapidly extrl-
eating ourselves from this thraldem, but until we
are completely removed from the influence of TO-
reign affairs on our internal commerce, we shall
periodically experience all the fluctuations in
prices, &c, which have, so far in our history,
marked our progress"
We most sincerely sympathlZe with the dis
tresses OF our TRANSATLANTIC brethren. We hear
tily sorry, not more for their sakes than for our
own, TO hear that their prospects are so gloomy;
and If it be true it doubtless is. that their pros
Ierlty follows on the heels of own, ferventy
hope that their difficulties may speedily disappear,
and that they may with one exception) be the
richest, busiest, and most thriving people on the
face Of the earth We can assure them It is not our
fault-bating, perhaps, little over indulgence In
not be our fault # they do not become In future
railway speculation, of which we are duly sensible
that they are not go already, and 1t shall
We will try our very utmost to be as prosperous as
we can. We will do our best, In the regular way
of business. 10 fill our pockets with money. We
Will take advantage OF every symptom OF the re-
vival of commercial activity on the Continent and
avail ourselves OF every opportunity of extending
our export business, and tempting our alarmed and
impoverished customers to lay out their boarded
francs and forms at our shop. We will undertake
to buy every ounce OF cotton, by the manufacture
OF which we have fair prospect of turning a
penny. We will take care to swear In sufficient
number OF special constables the next time that
there Is any danger of our being burned!n our
beds. Nay, we think we are entitled to some
a nYndIf m hot IInvyn .,<xf
remained sober and orderly IN the midst of an
uproar and hurly.burly that might have set the
coolest heads in whir! Has the revolution in
England gone further than the plllage of bakers
Have we not sent our red republicans to the hulks
and snufied out rebellion in Ireandl What, we
may ask, would have been the consequences to
American trade. had the cargoes which In March
and April could find no buyers at Havre been as
ruefully and hopeIessly declined at Liverpool
What would rave been the value OF this years
cotton crop, If Proconsul Maggs, armed with UNI
limited powers by Citizen Cuffey, Provisional Mi
mister OF the Home Department, were now presi-
ding over the Chamber of Commerce at Man
chester! The shock of the revolution was felt, no
doubt, in the countlng-house of the American
trader, but who knows how tar its numblng force
was lessened by its being transmitted not directly
from the disturbed countries but mediately through
its effect on the English markets
But whilst we Omit that the American jour-
nallst has accurately represented the connection
wnlch exists between stagnatlon on this side OF
the Atlantic and distress on the other he will per-
mt NE to doubt whether he has hit upon an appro-
pirate remedy If we do not mistake HIM, he
would have his countrymen withdraw their raw
produce from the export trade, and employ their
capital IN creating a market for it by the exten-
sion OF their manufacturing system at home. The
cotton grounds OF Louisiana are, according to his
plan, to be no longer employed in feeding the
looms OF Manchester. He wants to cut off the
countless threads OF commercial dependence
VA Inh fry IN
and to make the broad expanse OF the Atlantic, in
place Of being, as 1t now is, the great highway OF
International trade, a veritable gulf of separation
strongest objection to what he recommends is,
that 1t Is simply impossible. 1t cannot be done.
America can no more cease to be dependent on
Europe than Europe can do without America
WIN mn sihu ns naura, cnanneis ana II lheir
OF all the reasoning in the world. People will
send their goods to the most profitable market