Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1854-12-02
FROM AN OCCASIONAL CORRESPONDENT
NEW YoBK NOVEMBER 25. 1854.

| We are not vet at the bottom of our financial
troubles for money matters still look very blue,
and all our business men are taking in sail, clue
| ing up and clueing down." in nautical phrase, as
rapidly as possible This process, of course, would
have saved the commercial and financial fleet,
had it been resored to in proper time; but whether
it will do now, when the squat has already struck
them and they aborng and staggering under the
weight of it, is a matter Of doubt The amount Of
specie shipped by several of the last European steam
ers tits true less than previously but this is evident
" owing the money pressure which has curtaied the
ability Of those indebted Europe to meet their iadebt
edness SO promptly they otherwise would; but that
Indebtedness still remains and the payment of it is only
postponed.
do not see how we could have anticipated any other
result under the wild system of importation and consump
ton Of foreign productions for years past The
country has heretofore stood up under the heavy annual
balance against US beyond the whole amount of our ex
portaton in consequence of the large supply Of Cafor
MIA gold and by the wild and extensive railroad projects
whose bonds have been issued by tens Of millions of dol
lars and sod and in instances sacrificed in Europe
the amount thus realized having aided to qudate the
large annual balance against But this source is
cut off, further negotiations Of the kind are i'm
practicable and there is nothing left to qudate the
deficiency between our imports and exports but the
hard gold which has for months been going out IN larger
quantities than in from California, and has conse-
queny been making inroads upon the reserved amount
that had previously accumulated in the country and has
drawn upon tho specie capital Of the banks who for their
own preservation have been obliged contract their is
sues and business.
The primary and main for all this trouble is
existing tariff which offers such direct encouragement
and actual bounty to people to consume foreign
productions will the evil be permanently corrected
until learn to buy less abroad and more at home.
The gross imports Of the last year will not fall much
any short of $500 600 000-a far beyond the ability
of the country to pay for without causing reactions de-
rangement of business financial Distress and extended
bankruptcy We may and have continued this for
several years. but it has only been heaping up wrath
for the day of wrath, we experiencing, for
we have already transferred Europe certainly not less
than three four hundred Of dollars in the way
of stocks bonds and other evidences Of debt in sete-
men for former and recent Of mportatons over
current Of payment thus mortgagng the fu-
labor of the country for the redemption of that i'm
amount, and in the time taxing the industry
Of the nation twenty twenty five millions annually to
pay the interest until We may be able, sp to redeem
the principal. s
Nothing speaks louder as to the alarm on the present
gloomy state of affairs than the anxiety universally felt
supplies of gold and the information that of these
vessels with one or two millions board lost would
probably precpitate dreadful crisis in city and
country.
The SouLE affair." it appears has been settled, that
he is permitted to pass through France his way to
Madrid but not to tarry in French territory 1t is
derstood that the French Government never intended
prohibit his passage through France route for
SPAIN but only his residence, and that their nstruc-
tons to the police at Calais misunderstood
this point They have merely carried out their ORR
ginal intention, they still refuse Mr. SouLE the privi
lege Of remang in France but accompany their deca
ration with pointed denial Of intending any national
aront or of courtesy to the United States and
stating that the whole of their proceedings based
grounds exclusively personal regards Mr. Soue. With
such an avowa there would have been just Of
offence on part had they refused to allow him
tho privilege of entering French territory for hq
purpose Of proceeding to Madrid fer every Government
has the undoubted right prohibit the entrance Of any
foreigner into their country for satisfactory TO
themselves 1t is however notorious that there is kind
of freemasonry between all the restless revolutionary
spirits Of Europe who keep up in various mysterious
ways constant communications with each other nowith-
standing the vigilance OF the most perfect police
in the world and thus constantly plotting and trying
to organize movements against the existing Of things
on the continent Mr. SoulGs antecedents and the
mors if not facts, regards his recent proceedings n
connection with the political troubles in Spain, naturally
| brought him under suspicion probable medium OF
communication between the revolutionary unta in Lon
don and their confederates in France and the French
Government under this belief they naturally would
be DESTROYS to counteract any thing Of the kind SIN
cerely hope Mr. Soue clear his skirts the subject
and prove satisfactorily that there was just
the action of the French Government towards him bu
it will not be any proof of his Judgment discretion
he has, you will the public pers assert address
ed insulting letter to the French Minister Of Foreign
i Affairs.
If your rulers at Washington would speak canddly oil
the subject think they would and all acknowledg
that Mr. souG, well other Of their foreign ap
pointments, have been any thing but comfort to tn
Administration They have fortunately got out Of til
present scrape into which he had brought them but
long it will be before he gets them into another it woul
, be difficult to say
Many persons very unnecessarily began to get alarme
France 1t indeed would have been the height Of insau
folly the part of both nations If such event ha
led TO any serious difficulty between them; but still tn
fears that have been entertained the has ha
the good effect Of rousng public attention to preser
position in Of any rupture of amcable relation
only with either Of the great Powers of Europe bl
even with one OF the second-rate nations. 1t is
general belief that the present French Government CT
terrain friendly feelings towards us, and that II an