The New York herald., 1849-02-24
The Foreign News

The Foreign News.
The intelligence which we received from |
Europe, by telegraph from st. Johns, New Bruins
wick, which was conveyed to that city by the
steamship Europa, is very important and interest,"
Ing, commercially, financially, and politically.
The continuance OF quiet on the Continent, has,
it appears, exerted very beneficial influence on
the state of trade In that part of the world. The
demand for cotton in England and other countries
was brisk, and quotations were firm. From the
manufacturing districts, we are informed the ac-
counts are decidedly encouraging. Holders OF
goods are represented firm in their operations,
and sargulRe as to good spring trade. This
is happy thing for this country, as well as Eng
land. Business OF all kinds appears to be pros
perlng. These remarks apply with equal force to
the gram and flour markets, notwithstanding that
the ministry have, through their organ, Lord John
Russell, espoused the doctrines of the anti.corn
politicians, In keeping that article OF sustenance
free of duty. This will unquestlonably be OF
great advantage to the United States, for 1t will
remove all the impedlments which have heretofore
antertered with the agriculturists of the United
States, and place them on an equal footing with
those of that country.
The financial feature of the ioreig news is not
less interesting than the commercial. United
State stocks and securities have experienced
further advance, and money was plenty at two per
cent interest. The abundance of money is, no
doubt the cause of the advance, the rate of interest
being, IN addition the perfect safety OF American
stocks an inducement for capitalists to invest In
them in preference to the securities of any Euro
pean government. Heretofore, American stecks
have not been thought much of Europe,
in consequence of want of knowledge of
our federal system OF government. European ca
pitalists could not discriminate between the State
and national governments, and the consequence
was, when that of Mississippi rcpudiatedher lndeb-
edness and refused to pay, the United States go.
vernment could not borrow dollar IN Europe, and
proposals for loan were hawked through the ca
pltas OF Europe without single offer being made.
That false impression has been removed and In
addition 10 that, the fact has been demonstrated
that the government of this country ID the most
stable In the world, and our resources are mex
haustible. The consequence, therefore Is, that
our stocks eagerly sought as means OF invest
ment; /; and we are satisfied that henceforth great
proportion OF the capital OF Europe will find Its way
to this country, and be invested In American secu-
rites.
In political point of view the news is exceed
lngly interesting. plot, either real or tancled,
20 overthrow the existing government OF France,
was recently disclosed butthe government showed
such an imposing and overpowerlng military force
as to put all danger out of sight. In other respects
there has been no change or any feature wor-
thy OF comment
England appears to be in state of transition
% be undergoing a change, slowly and quietly,
under the influence of Mr.. Golden and his asso
ciates Not only have the ministry. through Lord
John Russell declared in favor of tree trade in corn
but the navigation laws to be modified, and
important retrenchments undertaken IN every de-
partment of the government. If that countrypro.
ceeds In the work Of conomising and reforming the
public expenditures and reducing the excessive tax
alton 1t may escape turmoil and revolution But the
reforms which they make must not be nominal
they must be real and appreciable by the of
the people otherwise they will be OF no effect.
Under the guidance and teaching of Golden, and
ahe contrast which the United States furnishes, the
great body of the people are becoming convinced
OF the necessity of efecting great and radical
change in the public expenditures. To check the
call for reform would be fatal to any ministry. 1t
might be stuffed for while by the bayonet, and by
a suspension of the habeas eorym-the policy which
produce its natural results in a short time, and
hey could not but be fatal to the government, as il
now Is constructed. The sagacity of the ministry,
therefore, in taking the sta.d which they have
aaken, is apparent. They find that they cannot
withstand the pressure from without that the
interests of the few must yield to the benefit of the
many, who have become uneasy of the woke 80
ong and so Vigorously imposed on them
Evop Irala nd Wa hova ~.
sance, except that the ministry had determined to
continue in force the bill suspending the habeas
corpus for three months after the first of March, the
siiay on which il was to be restored. Duffy was to
he placed on trial lmmed ately, and the probability
as thai the next steamer from Liverpool will bring
aus intelligence of his fate. The continued sus-
pension Of the habeas corpus is a most Infamous
procee ding, and can have no effect but that OF still
further irritating and Notifying the Irish people.
1t Is also entirely uncalled TOR, as far as we
Judge, and cannot be viewed In any other light
zhan an act of despousm. What has become OF
dhat glorious constitution, concerning which 30
much is prated by the loyal subjects of Queen Vic
fora What has become OF that "bulwark CT
English libery,' the habeas corpus? AS Iar as trea
son is concerned, there Is not the slightest proba-
bllity that any will be committed or even attempted
by lrishmen towards the government. They are
incapable Of dong so, because they are traitors to
themselves to their own interests, and their native
Iand. To suppose that the people of Ireland, who |
have shown themselves to be the abject slaves of |
the priesthood, could commit treason against the
government, Is absurd They gave conclusive
denrpI to the assumption, when they allowed the
parrot Mitchell to be removed from their capital, In