The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-06-19


lied world is divided into three great empires
Russia Great Britain and the United States.
The last is not numerically equal to France or
Austria, but in wealth. energy and territory, is
far superior France has reached that period OF
moral decrepitude at which her population is
almost stationary. Austria is nearly in the same
condition-and both are involved in deep iinan-
cial embarrassment Russia is increasing in
I population, and in political Importance, and is
financially independent. England increases in
cent per annum, notwithstanding the immense
tide of emigration from her shores to this coun-
try and her colonies. And she is still going on
in her East Indian career of acquisition, beng
now engaged in the ACKNOWLEDGMENT Of the Bur
mese empire. She is also pressing on Central
America, and on Africa. The recent financial
changes in the world, resulting from the enor-
nous production of gold in California and Aus
trails, are operating favorably to Great Britain
Her public debt amounts to about four thousand
millions of dollars, and the interest is three per
cent.---or one hundred and twenty millions OF
dollars per annum. But the market rate of in
terest is declining. If nothing occurs to arrest
the present tendency Of the money market, it
will soon be in her power to reduce the rate of
interest on her public debt to two and a half per
cent, which would amount in effect to a reduc-
ton of the public debt one -sxth--the difference
between three and two and half per cent
for Great Britain has adopted the wise policy
of reserving the privilege of paying her public
debt at pleasure. Hence, if she could obtain
par for new bonds at two and half per cent.
she could pay off the old at three. This would
operate in favor of her tax-paying population,
aud against the tax receiving-the bond holders
who are the Weather class--and would reduce
the inequality between the two.
If we consider the present aud prospective
condition of Russia, Great Britain and the
United States, we will perceive that there never
was at any former period any universal en-
pire with moral or physical power equal TO
either. And it is remarkable that the seat OF
power in the three great empires of modern
times is far away and beyond the centre of the
ancient universal empires. Then America was
unknown-Brtan contemplate isle of naked
barbarians, and Russia desert waste of SHOWS
and savages.
The existence of single great and formula
BILE power tends to the consolidation and ag,
gregation fother States-for self defence. The
existence now of several not only does this but
promotes the principle of consolidation in each
of them. For the enormous expansion of COM
merce, and rapidity of transit makes them neigh
bors and makes them jealous. What are we to
expect? Will these great powers come into con
tlict, and continue at it, until one is supreme
And will that one then fall by the corruption o
centralism, and by desultory attacks around it
frontiers of outside tribes and nations, as Rom,
was overthrown Or will they be broken tt
pieces by the shock of collision with one
another?
IL may seem extravaganza to speculate on the
chances of collision between this country AVID
Great Britain for empire, much less between ~
and Russia. But we are practically less remote,
than Rome was from Carthage or from Persia.
But whatever may be the fact OF the fate of flu
ture conflicts between us and foreign powers
for universal empire, we cannot doubt that the
late territorial ACKNOWLEDGMENT, and military
achievements of the United States have turned
the minds of the people to the contingencies of
conflict with European powers and inspired
notion of universal empire and that this idea
has had powerful effect on the internal con-
aict between the sections.
The same motive is distinctly visible in til.
recent and pending organizations of party. The
Democrats were not united on the Compromise
and are not. Many of the North detested it
for one reason many Of the South for opposite
reasons. Yet such is the tendency TO CONSOLE
dalton, such the desire of about one half the
people TO rule the other, and such the growing
importance of our foreign relations, that the
convictions and the rights of sections have been
sacrificed to the passion for spos, for power,
and to the idea of national ACKNOWLEDGEMENT.
The Wings will probably adopt the policy of
the Democrats and will accept any platform to
prevent disruption of the party--and to secure
an available candidate Hence the platforms of
both parties will be alike, and the contest will
be for men-or rather will be between two fac
tions, and for The spoils
The doctrine of intervention into which both
parties at the North have largely embarked
lately, is not near so much the result of sym-
pathy for struggling liberty in Europe, as the
instinct for conflict and foreign conquest We
are destined probably to follow the example OF
England-to combine the passions of ambition
md avarice TO aim at once for territorial and
commercial expansion. But the changes tina
must result from any general renewal of war il
Christendom will be too great TO allow of spec
ulahon as to the actual condition of the wor
at the next general peace.
Proceedings Of the Wing National Conven
ton.
SECOND DAY-EvENING SESSION.