Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1854-05-27
NATIONAL INTELLIGENCER.
FROM ouRLoN CORRESPONDENT
LONDON, MAY A, 1854.

5,. LONDON, MAY 4, 1854.
It would be well if both nations and individuals
would, before they engaged In any undertaKlng,
count the cost which might probably attend It's pro-
secution but there are two cases when TINS can
not be done-when nation enters into war ana
when an individual commences lawsuit Eng
land and France have just been forced into war
and therefore neither the Government nor the
peoule of either of those countries ought to be
charged with want of foresight or Of prudence if
all calculation as to either the cost the continu
ance of that war should prove utterly incorrect.
That the cost will be much greater than expected
now proved by the fact that the British Chancellor OF
the Exchequer is already in the market for the sale OF
&C. DOC, 900 Of what may be called Government bank
notes. under the Of Erchequv Bonds, payable on
certain day with interests and the French Government
has given notice of another loan of about the same mag
ntude the last 1t will be remembered that Mr. GLAD
proceeds upon the plan of making the present &C.
neraon provide for the payment Of all the debts 1t IN
ours upon the maxim that would not be fair to burden
poserity with them whilst the French Government says
that the present undertaken for the benefit Of pos
terity and therefore posterity must pay for It. John
Bull either pays cash gives his note payable at short
date; whilst his ally the other side Of the British
channel trades the credit system, and leaves poserit
to pay the principal contenting himself with providing
for payment the interest In fact the one trades upon
his capital the other borrows money upon mortgage.
We like the former system best We do not forget how
ever that John Bull has already morgaged his estate
very deeply whilst his French friend reoices in pro-
perry very lightly encountered What Russia VAL DO In
the matter of ways and means we DO not venture 20 sur
mise Prince DEMIDorr has it is sad offered his estates
to the Emperor to Carry the war with, and Court
banker at ST. Petersburgh has placed very large amount
of money at his disposal England and France win have
to assist Turkey with money we'll as men, and it is
said that the latter If not both have already done So
Prussia probably does not need money except what she
can raise either within herself upon her credit should
abe enter into the war and would raise what
she may without mucn thculty should abe engage
in the war against Russa ! II would have deaf ear
turned to her upon every in Europe the ally Of
the Gar AS far respe, b. Land, we may rest salts
fed that the present viii not be carried on IN the
same manner as the last In that war succors and
stores dealt out to incapable allies BY incapable
agents and in reckless prousion Money and men were
lav;shed undertakings nudicousy planned and feeby
executed England subsidized allies from whom she re-
ceived scany and reluctant aid and fed and clothed
auxiares who fed from her side in the day OF battle
These things will not occur again
The sanguine portion of the public say if the present
contest be well managed it will either be short one OF
cheap one. II England and France put forth their
strength and they resolved to do So and act with
vigor and grand SCALE the may be, are told
terminated successfully in two campaigns This will be
short war IT, either from the choice of the allies OF
the policy Of Russia, slower and more langud course
of action be adopted the ordinary military and naval
penditure need not be very greatly enhanced will
commerce suffer any very extensive interruption Ii the
war continue through any lengthy PERIOD trade will gra
duay accommodate itself to the existing circumstances
and modify its operations and thus long war would be
cheap war England is said to be in very fourishing
condition and well prepared for such contest that
upon which she entering The population has doubled
since the middle Of the last its wealth has pro-
badly quadrupled its productive power has increased
in yet greater ratio whilst its expenditures can
not it is said be increased annually than one-haf
unless it be determined to make preparations most
gigantic SCALE probaby the best policy in which case
the war would be avery brief one state Of war which
century ago would bsve proved grevous burden may
at the present day Prove Insignificant Tho reve-
nue. also is in vy elastic state During the long peace
the tar has beer from almost every necessary Of
life and reduced upon nearly oil the comforts and luxu
ries The yon-acceptance by the public Of the terms
upon whcy the Chancellor Of the Exchequer offered the
gsOOO00 exchequer bonds arises from miscalcula-
zion Of ne value Of money The interest offered by the
Chancellor only 81 per cent to be redeemed in 1853
1s5aAnd 1860. When the fixed rate Of 81 per cent
6rs4ttached to these securities the value of money
anu Of was considered very ueSraDie lnVesC-
,snt for fixed period The value Of money is now
pdly rising, and few capitalists would invest at % per
cent for FIVE six years In fact Mr. GLADSTONE has
been compelled to offer better terms even for the
a2O0O 600 which will be redeemabc in 1865 The diff
Guilty would have been obvated had Mr. Gladstone offer
ed better terms There is lack of confidence in the
Government, there is not shadow of desire to
impede its operations but there is very natural repug
nance to lend money for six years at 81 per cent when
FIVE readily be made Of it in private operations
People beginning to discuss the renewal Of the char
ter of the Bank Of England the present term Of which
will expire the LIST Of August 1856 OF least it will
be liable to renewal at any time upon twelve months
tice, to be given aer that day therefore the present
charter cannot be exngushed before the LIST of August
1885, Thus the question respecting the terms upon which
the charter shall be renewed naturally forces itself upon
the public attention. This question involves great
many points, both of principle and practice which may
we'll occupy the most accomplished and acute politicians
The Bank and the Government not absolutely
sary to each other but they both highly svccab the
one to the other-one the largest customer in the
country the other the largest and most powerful bank
in the country EACH however, is far independent Of
the other that neither need submit to any unfair terms
undue dictation.
The Parliamentary proceedings during the week have
been Of very unimportant nature. 1t seems curious
that-at the time when has been declared against
powerful nation when money is every day rising in value
and property proportionay falling; when calls Of the