The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-04-06
PUBLIC LOANS Rpcryrrr CONTRACTED IN EUROPE.

This will do for present but only for the present
Three hundred millions of dollars win not go very far,
last very long in sustaining the immense naval and militia
ry forces already in active operation When It is borne in
mind that this not of short DURATION it DO
very easily believed that three times the amount named
will not suffice to meet the required expenditures
1t is beyond the comprehension Of to form
any idea of the ultimate results of the present state
of things in Europe A vast difference of opinion
existed few months since regarding The effect
of general war upon trade and commerce; but now
there appears be but opinion upon the subject
No doubts for moment that the consequences
must be most deplorabe to every portant foreign in
teres The of each country involved in the
struggle must be seriously drained the people heavily
taxed every branch of industry crippled if not utterly
destroyed and ruin Distress and desolaon appear at
every step. Burdened those countries already are
with immense Debts the people already taxed almost
beyond their means, it easily be that not
of them is in condition to carry Of any mag
nitude 1t is easy enough to become involved in such
expensive operations but not to them
successfully get OF them without enormous losses.
Nothing be gained by warfare at this age of the
world. There is such thing exterminating or
Initiating nations and of conquest have long since
ceased at all events in Europe. There is therefore,
nothing to be gained in the present warnot glory
plumber. 1t win produce nothing hat death, disease
and the energies, earnings priSaons and economy of
ages will hardly suffice TO restore the wealth. prosperity
happiness strength and which existed through
out Europe twelve months since.
The financial and commercial classes cannot contem.
plate the present position airs without much appre
henson They most deeply involved in pecuniary
sense and must therefore watch the progress of events
with much solcitude 1t may be TOO late to adopt
sufficiently precautionary TO guard against all
b,t;t 20, bn
well acquainted with the intricate relations of all inan
ca and commercial transactions whether Of foreign
domestic origin that it il entirely OF the question
create arrangement disturbance in the regular le
climate movements of commerce. in section Of the
world, without producing corresponn effect through
out the entire system It may therefore be too late
obyate entirely any unfavorabe effect of the events
which have already transpred in Europe, but we can
guard against the future by Withdrawing from opera
tons not absolutely necessary to keep the machinery
Of business in motion. 1t will be best to shut
off a little steam, and go along at moderate,
safe speed always to be under control easy in
hand. Contraction is the true policy in such times and
those who commence in good earnest and ad-
here strictly to such course, will escape serious
barrassments and difficulties 1t may be difficult for
those who are doing large and apparently prosperous
business to comprehend the dangers which actually
though invsbly surround them; but it would be we'll
for them to pause ana consider their position and see
how easy all their 6ne prospects may be destroyed-how
suddenly all the sunshine above them may be changed
to dark and threatening clouds 1t our impression
that the disastrous effect of the European will
coed the most gloomy forebodngs that it will cause
disastrous revulsions revolutions in financial
and commercial affairs than have been known in the his
tory Of the world.
BY report made to the Treasury Department It ap-
pears that the following of gold and silver
coins hand at the Mint of the United States Phi
ladelphia, April l, 1864