The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-16

drd } sea, he may accordingly expec. to be
Instant, sent b OK again. He will probably
not turn th 1T Of SINE deflnise understand
ing with France. He win be wise In doing 30;
bu his wisdom cannot b led on. lie
may, under the counse OF "Young Ame-
RIGA" and the French refugees in Loudon.
,precipitate a war with F ance aud Spain
cisnty t reatening a. 1t is. 1t def rs the &C
qnisi lon Of Coba indefinitely. + ance has In
terpcsed and rel eyed Madrid Of he pressing
ultimatum our administration and Its minis
ter. Our friendly relations with France are
abruptly broken of, and war appears to be as
likely Is peace, az far as the temper and in
terests Of Louis Napoleon are concerned.
Such are the practical res Its o the mi era
bic sp policy Of this impotent administra-
ton, which sends as it public agents abroad
Tammany Hall short boys, English socialists,
French hlibusters and Specializing Jews. Ba'
Marcy has hit the nail upon the head. "We
have had enough of this" Let these revolu-
ton plo tiers and took. brokers' be Recall cd, be-
ginning with SoulG. An invitation TO Wash
iDgton may save him an ignominious expulsion
from Spain Or should he voluntarily come
home send him no more to Madrid. If he must
be employed, post him OIL to Greytow N the
place Of Borlend.-
The diplomats of this Cabinet have been long
CROUCH disgracing us at home and abroad.
Marcy is quite right: 1--WE have had enough
Of this" The critical pass to which they have
brought our relations with France and SPAN
sustains the opinion of Marcy. A rupture with
France at this time from its damaging effects
upon our commerce, would instantly preciptat,
upon US a general financial revulsion with
which, even as we stand. we are so imminently
threatened. In this light we must sustain
Marcy. We regard him as one Of the mos, cor
yupt, uDp'incipled, and inscriptions of buck
stering spoilsmen but in proposing the recall
Of Soule he is right. But Pierce is weak and
bewildered, and the Cabinet, excepting Marcy,
are but the puppets Of Pierce. In fact, the al
Dinistration wants advice aud instructions from
the people.
To this end, in view of our critical relations
with Franz and Spain-in view Of the broken
banks and commercial failures thckening around
US from day to dsy--in view of the overwhelm
ing financial and commercial revuision which
would follow rupture with France ana her
protegt-in view Of the dangers Of war aud our
urgent necessities for peace; and in view Of the
great commercial and financial interests OF
New York involved in the issue, we recommend
to the people Of this city, without distinction +
party, public me citing in the Park at some
carly period. We recommend for this meetiqg
the adoption of appropriate resolutions touch
ing the recall of Soulf and his flibustering
and stock jobbing eonfreres at London, the
Hague, and elsewhere, and the appointment OF
u committee to carry these resolutions to the
White House.
Let US have a mass meeting in the Park Oh
the Soule difficulty and the Cuban question
1t may contribute much to relieve the Cabinet
Of it's bluDders and ADVERTISEMENTS, and the
country from the perils of a ruineus war.
Our Financial POsitton--Ihe Actioi or tt,r
Sub-Taensury.
The steamer which sailed for Europe ycs.cr-
day took out some thirteen hundred thousand
shipments Of the year, and our gold export
since the LIST Of January cannot fall far short
OF forty millions Of dollars, which is nearly
nine more than we expor led last year. The
increase is no! due to enlarged receipts from
California, for we have resolved less, while we
exported more. The city banks have not lost
much. In July, 1853, when the first weekly
statement wss made, they had in their vaults
sl2, F4,54l; on the b Of January, 1854, they
bad Sill ,506,l24 VIII, ch was swelled by the
Mexican deposits to sl5,72O,sO9 on the 22d IF
July. Most Of his surplus ha. since been e.
ported and we estimate the amount now In
uapd at about Sill 100000. Tie LUX OF tie
gold that has been ost has come out Of the
hands Of merchants aud individuals, who arc
poorer.
Hence 1t is, in part, that we arc In daily re-
ceipt Of alarming commercial news from the
West and the country generally. Failure after
failure is reported in the Western and Southern
cities: In some Of them, suoa as Cincinnati,
trade seems to have been brought to COM
plete staDdsiill by the want Of banking capital.
One authority states positively that all the pri-
yate bankers Of the Yves: have either suspended
pay ment or refused To undertake fresh risk.
Hence, manufacturers and merchants, deprived
Of the accommo dation they require, have been
obliged to follow the came example aud sus-
pend. Hitherto, these disasters have been mainly
confined to The West. The failures that have oc-
cured in the cities Of New York, Boston and
Philadelphia have not been so frequent or 30
important as to justify the assertion that We
were in the midst Of Q panic. Sill, we have
suffered, and that severely. The game began
with the stock brokers end ball operators in
stocks, a fair proportion among whom broke some
weeks ago. Then some importing houses failed;
and the auctions Of dry goods at 80 per cent
loss brought down two or three respectable
firms. Then the bears In stocks were choked OF
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